Trend analysis (Fig. 1).
The GBP/USD currency pair may move downward from the level of 1.2659 (closing of yesterday's daily candle) with the target of 1.2624, the 85.4% pullback level (red dotted line). When testing this level, the price may move upwards with the target of 1.2698, the upper fractal (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger bands - up;
- Weekly chart - up.
General conclusion:
Today, the price may move downward from the level of 1.2659 (closing of yesterday's daily candle) with the target of 1.2624, the 85.4% pullback level (red dotted line). When testing this level, the price may move upwards with the target of 1.2698, the upper fractal (blue dotted line).
Alternatively, the price may move downward from the level of 1.2659 (closing of yesterday's daily candle) with the target of 1.2605, the 23.6% pullback (blue dotted line). When testing this level, an upward movement is possible with the target of 1.2698, the upper fractal (blue dotted line).
