10.06.202111:58 Forex Analysis & Reviews: Indicator analysis. Daily review for the GBP/USD pair on June 10, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.4115 (closing of yesterday's daily candlestick) may continue to move downward with the target of 1.4025 - the 38.2% retracement level (red dotted line). Upon reaching this level, it is possible to start moving upward with the target of 1.4092 - the 76.4% retracement level (blue dashed line).

Figure 1 (Daily Chart).

Comprehensive analysis:

• Indicator analysis - down;
• Fibonacci levels - down;
• Volumes - down;
• Candlestick analysis - down;
• Trend analysis - down;
• Bollinger lines - down;
• Weekly chart - down.

General conclusion:

Today, the price from the level of 1.4115 (closing of yesterday's daily candlestick) may continue to move downward with the target of 1.4025 - the 38.2% retracement level (red dotted line). Upon reaching this level, it is possible to start moving upward with the target of 1.4092 - the 76.4% retracement level (blue dashed line).

Unlikely scenario: from the level of 1.4115 (closing of yesterday's daily candle), it may continue to move downward with the target of 1.4082 - the lower fractal (daily candle from 04.06.2021). Upon testing this level, it is possible to start moving upwards with the target at 1.4217 - the historical resistance level (blue dashed line).