Trend analysis (Fig. 1)
GBP/USD is likely to decline on Thursday, from the closing of yesterday's daily candle (1.3460) to the 61.8% retracement level (1.3389). Then, it will go to the 14.6% retracement level (1.3481).
Fig. 1 (daily chart)
Comprehensive analysis:
Indicator analysis - downtrend
Fibonacci levels - downtrend
volumes - downtrend
Candlestick analysis - downtrend
Trend analysis - downtrend
Bollinger bands - downtrend
Weekly chart - downtrend
Conclusion: GBP/USD will dip from 1.3460 (closing of yesterday's daily candle) to 1.3389, which is the 61.8% retracement level (red dotted line). Then, it will go to 1.3481, which is the 14.6% retracement level (blue dashed line).
Alternatively, the pair could go down from 1.3460 (closing of yesterday's daily candle) to the lower fractal at 1.3434 (blue dashed line), then bounce up to all-time highs.
