Trend analysis (Fig. 1)
Following an upward movement from the level of 1.2198 (closing of yesterday's daily candle) to the 23.6% retracement level of 1.2259 (red dashed line), GBP/USD will rise towards the 13 EMA at 1.2286 (yellow thin line).
Fig. 1 (daily chart)
Comprehensive analysis:
Indicator analysis - uptrend
Fibonacci levels - uptrend
Volumes - uptrend
Candlestick analysis - uptrend
Trend analysis - uptrend
Bollinger bands - downtrend
Weekly chart - uptrend
Conclusion: GBP/USD will rise from the level of 1.2198 (closing of yesterday's daily candle) to the 23.6% retracement level of 1.2259 (red dashed line), and then head towards the 13 EMA at 1.2286 (yellow thin line).
Alternatively, the pair may continue moving up from the level of 1.2198 (closing of yesterday's daily candle) to the 23.6% retracement level of 1.2259 (red dashed line), followed by a decline to the 8 EMA at 1.2234 (blue thin line)
