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04.08.202009:14 Análise de Forex: Indicator analysis. Daily review on GBP / USD for August 4, 2020

Trend analysis (Fig. 1).

The market may begin to move downward from the level of 1.3077 (closing of yesterday's daily candle) with the target of 1.3037 - a 14.6% pullback level (red dotted line). From this level, the downward trend may continue with the next target of 1.2953 - a 23.6% pullback level (red dotted line).

Exchange Rates 04.08.2020 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 begin to move downward from the level of 1.3077 (closing of yesterday's daily candle) with the target of 1.3037 - a 14.6% pullback level (red dotted line). From this level, the downward trend may continue with the next target of 1.2953 - a 23.6% pullback level (red dotted line).

Another possible scenario is upon reaching the level of 1.3077 (closing of yesterday's daily candle) the upward movement may continue with the next target of 1.3161 - a 161.8% target level (blue dotted line).

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Stefan Doll,
Especialista em análise
do Grupo InstaForex © 2007-2021
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