02.03.202109:35 Forex Analysis & Reviews: Indicator Analysis. Daily review for the GBP/USD currency pair 03/02/21

Yesterday, the pair moved up, tested the 8 average EMA of 1.3974 (blue thin line) and then rolled back down. Moving down, the price tested 21 average EMA - 1.3890 (black thin line). The market closed the daily candle at 1.3921. The downward movement will continue and the economic calendar news is not expected today.

Trend Analysis (Fig. 1).

Today, the market will try to continue moving down from the level of 1.3921 (the close of yesterday's daily candle) with the target of 1.3815 at the pullback level of 14.6% (the red dotted line). When testing this level, it is possible to continue moving up with the target of 1.3943 at the pullback level of 76.4% (yellow dotted line).

Figure 1 (daily chart).

Comprehensive Analysis:

- Indicator Analysis - down

- Fibonacci Levels - down

- Volumes - up

- Candlestick Analysis - up

- Trend Analysis - down

- Bollinger Bands - down

- Weekly Chart - down

General Conclusion:

Today, the price will try to continue moving down from the level of 1.3921 (the closing of yesterday's daily candle) with the target of 1.3815 at the pullback level of 14.6% (the red dotted line). When testing this level, it is possible to continue moving up with the target of 1.3943 at the pullback level of 76.4% (yellow dotted line).

Unlikely scenario: from the level of 1.4060 (the close of yesterday's daily candle), it will try to continue moving down with the target of 1.3815 at the pullback level of 14.6% (red dotted line). When testing this level, it is possible to continue going down with the target of 1.3734 at the support line (the red thick line).