Trend analysis (Fig. 1).
The GBP/USD currency pair may move upward from the level of 1.2576 (closing of Friday's daily candle) to the target level at 1.2643, the 38.2% pullback level (red dotted line). In the case of testing this level, the price may move down.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - 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 1.2576 (closing of Friday's daily candle) to the target level at 1.2643, the 38.2% pullback level (red dotted line). In the case of testing this level, the price may move down.
Alternatively, the price may move upward from the level of 1.2576 (closing of Friday's daily candle) to the target level at 1.2634, the 5-day EMA (red thin line). From this level, the price may move down.
