Trend analysis (Fig. 1).
The GBP/USD currency pair may move downward from the level of 1.2717 (closing of yesterday's daily candle) to the target level at 1.2702, the 61.8% pullback level (red dotted line). In the case of testing this level, an upward movement is possible to 1.2762, the 85.4% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - down;
- Bollinger bands - up;
- Weekly chart - up.
General conclusion:
Today, the price may move downward from the level of 1.2717 (closing of yesterday's daily candle) to the target level at 1.2702, the 61.8% pullback level (red dotted line). In the case of testing this level, an upward movement is possible to 1.2762, the 85.4% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.2717 (closing of yesterday's daily candle) to the target level at 1.2673, the 50.0% pullback level (red dotted line). In the case of testing this level, an upward movement is possible to 1.2762, the 85.4% pullback level (red dotted line).
