Trend analysis (Fig. 1).
The GBP/USD currency pair may move upward from the level of 1.2500 (closing of yesterday's daily candle) to test the 1.2538 resistance level (white thick line). Upon reaching this level, a downward movement is possible to test 1.2470, the 14.6% pullback level (yellow dotted line). Upon testing this level, the price may move upward.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – 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 1.2500 (closing of yesterday's daily candle) to test the 1.2538 resistance level (white thick line). Upon reaching this level, a downward movement is possible to test 1.2470, the 14.6% pullback level (yellow dotted line). Upon testing this level, the price may move upward.
Alternatively, the price may move upward from the level of 1.2500 (closing of yesterday's daily candle) to test 1.2577, the 76.4% pullback level (red dotted line). Upon reaching this level, a downward movement is possible to test 1.2470, the 14.6% pullback level (yellow dotted line).
