Trend analysis (Fig. 1).
The GBP/USD currency pair may move upward from the level of 1.2222 (closing of Friday's daily candle) to 1.2248, the 50% pullback level (yellow dotted line). From here, the price may continue to move upward with a target at 1.2290, the 38.2% pullback level (yellow 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 upward from the level of 1.2222 (closing of Friday's daily candle) to 1.2248, the 50% pullback level (yellow dotted line). From here, the price may continue to move upward with a target at 1.2290, the 38.2% pullback level (yellow dotted line).
Alternatively, the price may move upward from the level of 1.2222 (closing of Friday's daily candle) to 1.2248, the 50% pullback level (yellow dotted line). Upon reaching this level, a downward movement is possible with a target at 1.2205, the 61.8% pullback level (yellow dotted line).
