Trend analysis (Fig. 1)
GBP/USD will attempt to move up from 1.2060 (closing of yesterday's daily candle) to the historical resistance level of 1.2213 (blue dotted line), followed by a rebound to the 23.6% retracement level at 1.2137 (yellow dotted line). Then, it will resume its upward price movement.
Fig. 1 (daily chart)
Comprehensive analysis:
Indicator analysis - uptrend
Volumes - uptrend
Candlestick analysis - uptrend
Trend analysis - uptrend
Bollinger bands - uptrend
Weekly chart - uptrend
Conclusion: GBP/USD will rise from 1.2060 (closing of yesterday's daily candle) to the historical resistance level of 1.2213 (blue dotted line), rebound to the 23.6% retracement level at 1.2137 (yellow dotted line), then resume the upward price movement.
Alternatively, the pair could climb from 1.2060 (closing of yesterday's daily candle) to the upper fractal at 1.2241 (daily candle from December 19, 2022), then begin moving downwards.
