Trend analysis (Fig. 1).
The GBP/USD currency pair may move upward from the level of 1.2751 (closing of yesterday's daily candle) to test 1.2816, the 38.2% pullback level (red dotted line). Upon testing this level, the price may decline to 1.2800, the 61.8% pullback level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger bands - down;
- Weekly chart - up.
General conclusion:
Today, the price may move upward from the level of 1.2751 (closing of yesterday's daily candle) to test 1.2816, the 38.2% pullback level (red dotted line). Upon testing this level, the price may decline to 1.2800, the 61.8% pullback level (blue dotted line).
Alternatively, the price may move upward from the level of 1.2751 (closing of yesterday's daily candle) to test 1.2878, the 50.0% pullback level (red dotted line). Upon testing this level, a downward movement is possible to 1.2816, the 38.2% pullback level (red dotted line).
