Trend analysis (Fig. 1).
The GBP/USD currency pair may move downward from the level of 1.2780 (closing of yesterday's daily candle) to test 1.2741, the 23.6% pullback level (red dotted line). In the case of testing this level, an upward movement is possible to 1.2818, the 38.2% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Volumes - down;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger bands - down;
- Weekly chart - up.
General conclusion:
Today, the price may move downward from the level of 1.2780 (closing of yesterday's daily candle) to test 1.2741, the 23.6% pullback level (red dotted line). In the case of testing this level, an upward movement is possible to 1.2818, the 38.2% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.2780 (closing of yesterday's daily candle) to test 1.2719, the 76.4% pullback level (blue dotted line). In the case of testing this level, an upward movement is possible with the target of 1.2818, the 38.2% pullback level (red dotted line).
