01.07.202112:02 Forex-elemzések és áttekintések: Indicator analysis. Daily review of the GBP/USD pair for July 1, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.3829 (closing of yesterday's daily candlestick) will move down to the target of 1.3804 - the 75.6% retracement level (red dotted line). Once this level is tested, it is possible to move up with the target of 1.3850 - the 14.6% retracement level (blue dashed line). And when this level is reached, the upward movement may continue with the target of 1.3891 - the 23.6% retracement level (blue dashed line).

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.3829 (closing of yesterday's daily candlestick) will move down to the target of 1.3804 - the 75.6% retracement level (red dotted line). Once this level is tested, it is possible to move up with the target of 1.3850 - the 14.6% retracement level (blue dashed line). And when this level is reached, the upward movement may continue with the target of 1.3891 - the 23.6% retracement level (blue dashed line).

Alternative scenario: from the level of 1.3829 (closing of yesterday's daily candlestick), it may continue to move downward with the target at 1.3785 - the lower fractal (blue dotted line). And from this level, it may start rising with the target of 1.3850 - the 14.6% retracement level (blue dashed line).