Trend analysis (Fig. 1).
The GBP/USD currency pair may move upward from the level of 1.2218 (closing of yesterday's daily candle) to 1.2248, the 50.0% pullback level (yellow dotted line). In the case of testing this level, a continued upward movement is possible to 1.2306, the 38.2% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Fibonacci levels – down;
- Volumes – down;
- Candlestick analysis – up;
- Trend analysis – down;
- Bollinger bands – down;
- Weekly chart – down.
General conclusion: Today, the price may move upward from the level of 1.2218 (closing of yesterday's daily candle) to 1.2248, the 50.0% pullback level (yellow dotted line). In the case of testing this level, a continued upward movement is possible to 1.2306, the 38.2% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.2218 (closing of yesterday's daily candlestick) to 1.2206, the 61.8% pullback level (yellow dotted line). In the case of testing this level, an upward movement is possible to 1.2248, the 50.0% pullback level (yellow dotted line).
