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15.09.202110:08 Forex Analysis & Reviews: Indicator analysis. Daily review of GBP/USD for September 15, 2021

The pair traded upward on Tuesday and tested the retracement level of 75.4% at 1.3891 (yellow dotted line), then went down, closing the daily candle at 1.3803. Today, the market may continue its upward movement. News is expected at 14:30 UTC (dollar).

Trend analysis (Fig. 1).

The market may continue to move upward from the level of 1.3803 (closing of yesterday's daily candle) with the target of 1.3891 - the 76.4% retracement level (yellow dashed line). In the case of testing this level, the upward movement may continue with the target of 1.3926 - the 85.4% retracement level (yellow dashed line).

Exchange Rates 15.09.2021 analysis

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Weekly chart - up;

- Bollinger lines - up.

General conclusion:

Today, the price may continue to move upward from the level of 1.3803 (closing of yesterday's daily candle) with the target at 1.3891 - the 76.4% retracement level (yellow dashed line). In the case of testing this level, the price may continue to move upward with the target of 1.3926 - the 85.4% retracement level (yellow dashed line).

Alternative scenario: the price may move upward from the level of 1.3803 (closing of yesterday's daily candle) with the target of 1.3836 - the 61.8% retracement level (yellow dashed line). In the case of testing this level, the price may begin to move down with the target of 1.3800 - the historical support level (blue dotted line).

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Stefan Doll,
Analytical expert of InstaForex
© 2007-2021
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