Trend analysis (Fig. 1)
GBP / USD may move from 1.3790 (closing of yesterday's daily candle) to the 38.2% retracement level (yellow dashed line) - 1.3819. Then, it will be followed with a rise to the 50% retracement level - 1.3837, where a rollback downwards is possible.
Fig. 1 (daily chart)
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger bands - up;
- Weekly chart - up.
General conclusion: GBP/USD may rise today from 1.3790 (closing of yesterday's daily candle) to the 38.2% retracement level (yellow dashed line) - 1.3819. Afterwards, it will climb to the 50% retracement level - 1.3837, where a rollback downwards is possible.
As such, it is unlikely for the pair to move down from 1.3790 (closing of yesterday's daily candle) to the support line (yellow bold line) - 1.3760, and drop further to the lower fractal (blue dotted line) - 1.3725.
