Trend analysis (Fig. 1).
The GBP/USD currency pair may move downward from the level of 1.2744 (closing of yesterday's daily candle) to 1.2719, the 23.6% pullback level (blue dotted line). In the case of testing this level, the price may move up with the target of 1.2785, the 61.8% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - down;
- Weekly chart - down;
- Bollinger bands - down.
General conclusion:
Today, the price may move downward from the level of 1.2744 (closing of yesterday's daily candle) to 1.2719, the 23.6% pullback level (blue dotted line). In the case of testing this level, the price may move up with the target of 1.2785, the 61.8% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.2744 (closing of yesterday's daily candle) to 1.2708, the 14.6% pullback level (red dotted line). In the case of testing this level, the price may move up with the target of 1.2785, the 61.8% pullback level (red dotted line).
