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Indicator analysis. Daily review of GBP/USD for September 20, 2021
03:35 2021-09-20 UTC--4

Trend analysis (Fig. 1).

The GBP/USD pair may move downward from the level of 1.3733 (closing of Friday's daily candle) with the target of 1.3679 - the lower fractal (daily candle from 08/27/2021). Upon reaching this level, the price may roll back up with the target of 1.3737 - the resistance line (yellow bold line). When testing this line, further upward movement is possible.

Fig. 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 may move downward from the level of 1.3733 (closing of Friday's daily candlestick) with the target of 1.3679 - the lower fractal (daily candlestick from 08/27/2021). Upon reaching this level, the price may roll back up with the target of 1.3737 - the resistance line (yellow bold line). When testing this line, further upward movement is possible.

Unlikely scenario: the price may move downward from the level of 1.3733 (closing of Friday's daily candle) with the target at 1.3679 - the lower fractal (daily candle from 08/27/2021). When testing this level, the price may continue to move down with the target at 1.3636 - the lower border of the Bollinger line indicator (black dashed line).

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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.