Trend analysis (Fig. 1).
The GBP/USD currency pair may move upward from the level of 1.2485 (closing of yesterday's daily candle) to the lower fractal at 1.2544 (red dotted line). In the case of testing this level, the price may move downward with the target of 1.2515, the 23.6% 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;
- Weekly chart – up;
- Bollinger bands – down.
General conclusion: Today, the price may move upward from the level of 1.2485 (closing of yesterday's daily candle) to the lower fractal at 1.2544 (red dotted line). In the case of testing this level, the price may move downward with the target of 1.2515, the 23.6% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.2485 (closing of yesterday's daily candle) to the 1.2400 support level (red thick line). In the case of testing this level, an upward movement is possible to 1.2524, the historical resistance level (blue dotted line).
