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28.07.202008:59 Forex Analysis & Reviews: Indicator analysis. Daily review on GBP / USD for July 28, 2020

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Trend analysis (Fig. 1).

The market may begin to move downward from the level of 1.2883 (closing of yesterday's daily candle) with the target of 1.2808 - a 14.6% pullback level (red dotted line). If this level is reached, the downward trend may continue with the next target of 1.2749 - a 23.6% pullback level (red dotted line).

Exchange Rates 28.07.2020 analysis

Fig. 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 may begin to move downward from the level of 1.2883 (closing of yesterday's daily candle) with the target of 1.2808 - a 14.6% pullback level (red dotted line). From this level, the price may continue to move downward with the next target of 1.2749 - a 23.6% pullback level (red dotted line).

Another possible scenario is a continuation of the upward trend from the level of 1.2883 (closing of yesterday's daily candle) with the target of 1.3160 (blue dotted line).

Stefan Doll
Analytical expert of InstaForex
© 2007-2024

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