Trend analysis (Fig. 1).
The GBP/USD currency pair may move upward from the level of 1.2983 (closing of yesterday's daily candle) with the target of 1.3005, the 168.2% pullback level (red dotted line). In the case of testing this level, the price may move down with the target of 1.2955, the 14.6% pullback level (blue dotted line). From this level, an upward pullback is possible.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger bands - down;
- Weekly chart - up.
General conclusion:
Today, the price may move upward from the level of 1.2983 (closing of yesterday's daily candle) with the target of 1.3005, the 168.2% pullback level (red dotted line). In the case of testing this level, the price may move down with the target of 1.2955, the 14.6% pullback level (blue dotted line). From this level, an upward pullback is possible.
Alternatively, the price may move upward from the level of 1.2983 (closing of yesterday's daily candle) with the target of 1.3005, the 168.2% pullback level (red dotted line). In the case of testing this level, the price may move down with the target of 1.2916, the 23.6% pullback level (blue dotted line). From this level, an upward pullback is possible.
