Trend analysis (Fig. 1).
The GBP/USD currency pair may move upward from the level of 1.2560 (closing of yesterday's daily candle) to 1.2583, the 14.6% pullback level (red dotted line). In the case of testing this level, the price may continue to move upwards to 1.2606, the 23.6% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - down;
- Weekly chart - up;
- Bollinger bands - down.
Overall conclusion: Today, the price may move upward from the level of 1.2560 (closing of yesterday's daily candle) to 1.2583, the 14.6% pullback level (red dotted line). In the case of testing this level, the price may continue to move upwards to 1.2606, the 23.6% pullback level (red dotted line).
Alternatively, the price may move upward from the level of 1.2560 (closing of yesterday's daily candle) to 1.2583, the 14.6% pullback level (red dotted line). In the case of testing this level, the price may move downward to 1.2524, the historical support level (red dotted line).
