Trend analysis (Fig. 1)
GBP/USD may move from 1.3660 (closing of yesterday's daily candle) to the support line (bold yellow line) - 1.3637. Then, a consolidation above it will provoke a further rise to the 61.8% retracement level (yellow dashed line) - 1.3719.
Fig. 1 (daily chart)
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger bands - down;
- Weekly chart - up.
General conclusion: It is likely that GBP/USD will rise from 1.3660 (closing of yesterday's daily candle) to the support line (bold yellow line) - 1.3637, and then head to the 61.8% retracement level (yellow dashed line) - 1.3719.
Alternatively, GBP/USD could decline first from 1.3660 (closing of yesterday's daily candle) to the 50.0% retracement level (blue dashed line) - 1.3620, and then go back to 1.3660 (yellow dashed line).
