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Forex Analysis & Reviews: Indicator analysis. Daily review on October 1, 2019 for the GBP / USD currency pair
time 01.10.2019 07:58 AM
time Relevance up to, 01.01.1970 03:00 AM

Long-term review0

Trend analysis (Fig. 1).

On Tuesday, the price may continue to move down to the lower fractal - 1.2271 (red dashed line). In case of breaking through this level, the continuation of the downward movement to the pullback level of 61.8% - 1.2198 (blue dotted line) is possible.

This image is no longer relevant

Fig. 1 (daily chart).

Comprehensive analysis:

- indicator analysis - down;

- Fibonacci levels - down;

- volumes - down;

- candlestick analysis - up;

- trend analysis - down;

- Bollinger Lines - down;

- weekly schedule - up.

General conclusion:

On Tuesday, the price may continue to move down.

From the pullback level of 50.0% - 1.2271 (red dashed line), an upward rollback is possible with the target of 1.2317 (red dashed line). In addition, the downward trend is continuing.

Stefan Doll,
Analytical expert of InstaForex
© 2007-2022
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