Trend analysis (Fig. 1).
The GBP/USD currency pair may move upward from the level of 1.2489 (closing of yesterday's daily candle) to the upper fractal at 1.2558 (yellow dotted line). Upon reaching this level, a downward movement is possible with a target of 1.2518, the historical support level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – up;
- Fibonacci levels – top;
- 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 1.2489 (closing of yesterday's daily candle) to the upper fractal at 1.2558 (yellow dotted line). Upon reaching this level, a downward movement is possible with a target of 1.2518, the historical support level (blue dotted line).
Alternatively, the price may move upward from the level of 1.2489 (closing of yesterday's daily candle) to 1.2518, the historical support level (blue dotted line). Upon reaching this level, a downward movement is possible with a target of 1.2473, the 61.8% pullback level (red dotted line).
