Trend analysis (Fig. 1).
The GBP/USD pair may move upward from the level of 1.3651 (closing of yesterday's daily candle) with the target of 1.3679 - the 14.6% retracement level (yellow dashed line). A test of this level will lead to further upward movement with the target of 1.3703 - the 23.6% retracement level (yellow dashed line).
Fig. 1 (daily chart)
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger lines - up;
- Weekly chart - up.
General conclusion:
Today, the price may move upward from the level of 1.3651 (closing of yesterday's daily candle) with the target of 1.3679 - the 14.6% retracement level (yellow dashed line). A test of this level will lead to further upward movement with the target of 1.3703 - the 23.6% retracement level (yellow dashed line).
Unlikely scenario: the price may move upward from the level of 1.3651 (closing of yesterday's daily candle) with the target of 1.3679 - the 14.6% retracement level (yellow dashed line). A test of this level will lead to continued downward movement with the target of 1.3601 - the lower fractal (blue dashed line), where an upward pullback may form.
