Trend analysis (Fig. 1).
The GBP/USD currency pair may move downward from the level of 1.2597 (closing of yesterday's daily candle) to the target level at 1.2550, the lower limit of the Bollinger band indicator (black dotted line). Upon reaching this level, an upward movement is possible to 1.2648, the 5-day EMA (red thin line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - down;
- Bollinger bands - down;
- Weekly chart - down.
General conclusion:
Today, the price may move downward from the level of 1.2597 (closing of yesterday's daily candle) to the target level at 1.2550, the lower limit of the Bollinger band indicator (black dotted line). Upon reaching this level, an upward movement is possible to 1.2648, the 5-day EMA (red thin line).
Alternatively, the price may move downward from the level of 1.2597 (closing of yesterday's daily candle) to the target level at 1.2550, the lower limit of the Bollinger band indicator (black dotted line). Upon reaching this level, an upward movement is possible to 1.2615, the lower fractal (red dotted line).
