Trend analysis (Fig. 1).
The GBP/USD currency pair may move downward from the level of 1.2379 (closing of Friday's daily candlestick) to 1.2341, the 14.6% pullback level (yellow dotted line). Upon reaching this level, the price may move upward with a target at 1.2473, the 61.8% 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 – up;
- Weekly chart – up.
General conclusion: Today, the price may move downward from the level of 1.2379 (closing of Friday's daily candlestick) to 1.2341, the 14.6% pullback level (yellow dotted line). Upon reaching this level, the price may move upward with a target at 1.2473, the 61.8% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.2379 (closing of Friday's daily candlestick) to 1.2312, the 23.6% pullback level (yellow dotted line). Upon reaching this level, an upward movement is possible to the upper fractal at 1.2388 (red dotted line).
