Trend analysis (Fig. 1).
The GBP/USD currency pair may move upward from the level of 1.2599 (closing of Friday's daily candle) to 1.2641, the 85.4% pullback level (red dotted line). Upon reaching this level, a downward movement is possible with a target of 1.2582, the historical support level (blue 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 1.2599 (closing of Friday's daily candle) to 1.2641, the 85.4% pullback level (red dotted line). Upon reaching this level, a downward movement is possible with a target of 1.2582, the historical support level (blue dotted line).
Alternatively, the price may move upward from the level of 1.2599 (closing of Friday's daily candle) to 1.2641, the 85.4% pullback level (red dotted line). Upon reaching this level, a continued upward movement is possible with a target of 1.22741, the historical resistance level (blue dotted line).
