Trend analysis (Fig. 1)
GBP/USD will continue rising on Tuesday, starting from the closing of yesterday's daily candle at 1.2021 to the 76.4% retracement level at 1.2092 (yellow dashed line). If this level is tested, the pair may resume moving upwards to the 85.4% retracement level at 1.2113 (yellow dotted line).
Fig. 1 (daily chart)
Comprehensive analysis:
Indicator analysis - uptrend
Fibonacci levels - uptrend
Volumes - uptrend
Candlestick analysis - uptrend
Trend analysis - uptrend
Bollinger bands - downtrend
Weekly chart - uptrend
Conclusion: GBP/USD will move up from 1.2021 (closing of yesterday's daily candle) to the 76.4% retracement level at 1.2092 (yellow dashed line), and then head towards the 85.4% retracement level at 1.2113 (yellow dotted line).
Alternatively, the pair could climb from 1.2021 (closing of yesterday's daily candle) to the 76.4% retracement level at 1.2092 (yellow dashed line), and then bounce towards another 76.4% retracement level at 1.1982 (blue dotted line). The pair will resume its increase after testing the level.
