Trend analysis (Fig. 1).
The GBP/USD currency pair may move upward from the level of 1.2486 (closing of yesterday's daily candle) with a target of 1.2524, the historical support level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.2559, the 38.2% pullback level (red dotted line).
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 1.2486 (closing of yesterday's daily candle) with a target of 1.2524, the historical support level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.2559, the 38.2% pullback level (red dotted line).
Alternatively, the price may move upward from the level of 1.2486 (closing of yesterday's daily candle) with a target of 1.2524, the historical support level (blue dotted line). In the case of testing this level, a downward movement is possible to 1.2488, the 14.6% pullback level (red dotted line).
