Trend analysis (Fig. 1).
The GBP/USD currency pair may move upward from the level of 1.2863 (closing of yesterday's daily candle) with the target of 1.2929, the 38.2% pullback level (blue dotted line). Upon reaching this level, the price may continue to move up.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - down;
- Bollinger bands - up;
- Weekly chart - up.
General conclusion :
Today, the price may move upward from the level of 1.2863 (closing of yesterday's daily candle) with the target of 1.2929, the 38.2% pullback level (blue dotted line). Upon reaching this level, the price may continue to move up.
Alternatively, the price may move upward from the level of 1.2863 (closing of yesterday's daily candle) with the target of 1.2909, the 13-day EMA (yellow thin line). Upon reaching this level, the price may move down.
