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03.10.201909:08 Forex Analysis & Reviews: Indicator analysis. Daily review on October 3, 2019 for the GBP / USD currency pair

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Trend analysis (Fig. 1).

On Thursday, the price will move down with the target of 1.2205 - the lower fractal (red dotted line).

Exchange Rates 03.10.2019 analysis

Fig. 1 (daily chart).

Comprehensive analysis:

- indicator analysis - down;

- Fibonacci levels - down;

- volumes - down;

- candlestick analysis - up;

- trend analysis - down;

- Bollinger Lines - down;

- weekly schedule - up.

General conclusion:

On Thursday, the price may begin to move down.

The first lower target of 1.2271 is a pullback level of 50.0% (blue dashed line).

The main target for today is 1.2205, which is the lower fractal (red dashed line).

An unlikely scenario is an upward movement to the upper fractal - 1.2346 (red dashed line).

Stefan Doll
Analytical expert of InstaForex
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