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

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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).

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