Trend analysis (Fig. 1).
The GBP/USD currency pair may move upward from the level of 1.2700 (closing of yesterday's daily candle) with the target of 1.2749, the 61.8% pullback level (red dotted line). When testing this level, a continued upward movement is possible with the target of 1.2785, the 76.4% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger bands - up;
- Weekly chart - up.
General conclusion:
Today, the price may move upward from the level of 1.2700 (closing of yesterday's daily candle) with the target of 1.2749, the 61.8% pullback level (red dotted line). When testing this level, a continued upward movement is possible with the target of 1.2785, the 76.4% pullback level (red dotted line).
Alternatively, the price may move upward from the level of 1.2700 (closing of yesterday's daily candle) with the target at 1.2749, the 61.8% pullback level (red dotted line). When testing this level, the price may move downward with the target of 1.2720, the 23.6% pullback level (blue dotted line).
