Indicator analysis for GBP/USD; Daily review, September 9, 2021

Trend analysis (pic. 1).

On Thursday, the quotes may move down from the level of 1.3767 (the closing of yesterday's daily candlestick) to the target of 1.3711 – a retracement level of 61.8% (yellow bold line). If the pair breaks through this level, it may rebound.

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Pic. 1 (daily chart).

Comprehensive analysis:

- indicator analysis - down;

- Fibonacci levels - down;

- volumes - down;

- candlestick analysis - up;

- trend analysis - up;

- Bollinger bands - down;

- weekly chart - down.

Conclusion:

On Thursday, the pair may dip from the level of 1.3767 (the closing of yesterday's daily candlestick) to the target level of 1.3711 – a retracement level of 61.8% (yellow dotted line) When testing this level, it may rebound.

Alternatively, it may start rising from the level of 1.3767 (the closing of yesterday's daily candlestick) to the target level of 1.3790 – a 50% retracement level (blue dotted line). After reaching this level, it may approach the target level of 1.3835, a retracement level of 61.8% (blue dotted line).

The material has been provided by InstaForex Company - www.instaforex.com

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