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24.09.202110:23 Forex Analysis & Reviews: Indicator analysis. Daily review of GBP/USD for September 24, 2021

Trend analysis (Fig. 1).

The market may move down from the level of 1.3715 (closing of yesterday's daily candle) to 1.3674 - the 76.4% retracement level (blue dotted line). After testing this level, the price may move upward to 1.3724 - the 38.2% retracement level (yellow dashed line). From here, further upward movement is possible.

Exchange Rates 24.09.2021 analysis

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - up;

- Volumes - down;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger lines - down;

- Weekly chart - up.

General conclusion:

Today, the price may move down from the level of 1.3715 (closing of yesterday's daily candle) to 1.3674 - the 76.4% retracement level (blue dashed line). After testing this level, the price may move upward to 1.3724 - the 38.2% retracement level (yellow dashed line). From here, further upward movement is possible.

Unlikely scenario: from the level of 1.3715 (closing of yesterday's daily candle), the price may move down with the target of 1.3674 - the 76.4% retracement level (blue dotted line). After testing this level, the price may continue to move downward with the target at 1.3646 - the 85.4% retracement level (blue dashed line). From here, an upward pullback is possible.

*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.

Stefan Doll,
Analytical expert of InstaForex
© 2007-2021
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