29.06.202110:17 Forex Analysis & Reviews: Indicator analysis. Daily review for the GBP/USD pair on June 29, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.3876 (closing of yesterday's daily candlestick) will try to continue moving down with the target of 1.3804 - the retracement level of 76.4% (red dotted line). After testing this level, it is possible to work upwards with the target at 1.3850 - the retracement level of 14.6% (blue dashed line). And once this level is tested, the upward movement may continue with the target of 1.3891 (blue dotted line).

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.3876 (closing of yesterday's daily candlestick) will try to continue moving down with the target of 1.3804 - the retracement level of 76.4% (red dotted line). After testing this level, it is possible to work upwards with the target at 1.3850 - the retracement level of 14.6% (blue dashed line). And once this level is tested, the upward movement may continue with the target of 1.3891 (blue dotted line).

Alternative scenario: from the level of 1.3876 (closing of yesterday's daily candlestick), it will try to continue moving down with the target of 1.3850 - the retracement level of 14.6% (blue dashed line). Upon testing this level, it is possible to work upwards with the target of 1.3891 - the retracement level of 23.6% (blue dashed line).