Trend analysis (Fig. 1).
The GBP/USD currency pair may move upward from the level of 1.2404 (closing of yesterday's daily candle) with the target of 1.2446, the 14.6% pullback level (red dotted line). Upon reaching this level, a continued upward movement is possible with a target of 1.2478, 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 – up;
- Bollinger bands – down;
- Weekly chart – up.
General conclusion: Today, the price may move upward from the level of 1.2404 (closing of yesterday's daily candle) with the target of 1.2446, the 14.6% pullback level (red dotted line). Upon reaching this level, a continued upward movement is possible with a target of 1.2478, the 23.6% pullback level (red dotted line).
Alternatively, the price may move upward from the level of 1.2404 (closing of yesterday's daily candle) with a target of 1.2446, the 14.6% pullback (red dotted line). Upon reaching this level, a downward movement is possible to the lower fractal at 1.2395 (red dotted line).
