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04.09.2019 09:23 AM
Indicator analysis. Daily review on September 4, 2019 for the GBP / USD currency pair

Trend analysis (Fig. 1).

On Wednesday, the price may continue to move upward with the goal of a pullback level of 50% - 1.2136 (blue dashed line) and in the case of breaking further up to a pullback level of 61.8% - 1.2175 (blue dashed line). From the level of 1.2136 (50% pullback), you can work down, but very carefully, with profit taking at the very first properties of the top work.

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Fig. 1 (daily chart).

Comprehensive analysis:

- indicator analysis - up;

- Fibonacci levels - up;

- volumes - up;

- candlestick analysis - up;

- trend analysis - up;

- Bollinger Lines - up;

- weekly schedule - up.

General conclusion:

On Tuesday, the price may continue to move up.

An unlikely scenario is a downward movement, with the first target of 1.2036 - lower fractal.

Stefan Doll,
Analytical expert of InstaForex
© 2007-2024
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