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28.09.202110:28 Forex Analysis & Reviews: Indicator analysis. Daily review of GBP/USD for September 28, 2021

The pair moved up on Monday, tested 1.3724 - the 38.2% retracement level (yellow dashed line), then moved down, closing the daily candle at 1.3694. On Tuesday, the market may move downward. News is expected at 14:00 UTC (dollar).

Trend analysis (Fig. 1).

The market may move down from the level of 1.3694 (closing of yesterday's daily candle) with the target of 1.3646 - the 85.4% retracement level (blue dotted line). After testing this level, the upward movement may continue with the target at 1.3724 - the 38.2% retracement level (yellow dashed line).

Exchange Rates 28.09.2021 analysis

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - down;

- Bollinger lines - down;

- Weekly chart - down.

General conclusion:

Today, the price may move down from the level of 1.3694 (closing of yesterday's daily candle) with the target of 1.3646 - the 85.4% retracement level (blue dotted line). After testing this level, the price may continue to move upward with the target at 1.3724 - the 38.2% retracement level (yellow dashed line).

Unlikely scenario: from the level of 1.3694 (closing of yesterday's daily candle), the price may move down with the target of 1.3646 - the 85.4% retracement level (blue dotted line). After testing this level, the price may continue to move down with the target of 1.3608 - the lower fractal (yellow dashed line). From here, an upward pullback is possible.

*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
© 2007-2022
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