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04.09.202310:16 Forex Analysis & Reviews: Indicator analysis: Daily review of GBP/USD on September 4, 2023

Trend analysis (Fig. 1).

The GBP/USD currency pair may move upward from the level of 1.2585 (closing of Friday's daily candle) to the target at 1.2643, the 38.2% pullback level (red dotted line). Upon reaching this level, the price may move down.

Exchange Rates 04.09.2023 analysis

Fig. 1 (daily chart).

Comprehensive analysis:

  • Indicator analysis - up;
  • Fibonacci levels - up;
  • Volumes - up;
  • Candlestick analysis - up;
  • Trend analysis - down;
  • Bollinger bands - down;
  • Weekly chart - up.

General conclusion:

Today, the price may move upward from the level of 1.2585 (closing of Friday's daily candle) to the target at 1.2643, the 38.2% pullback level (red dotted line). Upon reaching this level, the price may move down.

Alternatively, the price may move upward from the level of 1.2585 (closing of Friday's daily candle) to the target at 1.2643, the 38.2% pullback level (red dotted line). Upon reaching this level, the price may continue to move up.

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

Stefan Doll,
Analytical expert of InstaSpot
© 2007-2024
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