Trend analysis (Fig. 1)
GBP / USD may decline on Wednesday, from 1.3631 (closing of yesterday's daily candle) to 1.3566, which is the 14.6% retracement level (red dotted line). After that it will go to 1.3635, which is the upper fractal (red dotted line).
Fig. 1 (daily chart)
Comprehensive analysis:
Indicator analysis - downtrend
Fibonacci levels - downtrend
Volumes - downtrend
Candlestick analysis - downtrend
Trend analysis - uptrend
Bollinger bands - uptrend
Weekly chart - uptrend
Conclusion: GBP/USD will dip from 1.3631 (closing of yesterday's daily candle) to the 14.6% retracement level at 1.3566 (red dotted line). Then, it will go to 1.3635, which is the upper fractal (red dotted line).
Alternatively, the pair could go down from 1.3631 (closing of yesterday's daily candle) to the support line at 1.3584 (yellow bold line), then bounce up to the historical resistance level of 1.3618 (blue dashed line).
