Trend analysis (Fig. 1).
The GBP/USD currency pair may move downward from the level of 1.2715 (closing of Friday's daily candlestick) to 1.2686, the 13-period EMA (yellow thin line). From this level, a continued downward movement is possible to the upper fractal at 1.2516 (daily candle from 05/01/2024).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Fibonacci levels – down;
- Volumes – down;
- Candlestick analysis – down;
- Trend analysis – down;
- Bollinger bands – up;
- Weekly chart – up.
General conclusion: Today, the price may move downward from the level of 1.2715 (closing of Friday's daily candlestick) to 1.2686, the 13-period EMA (yellow thin line). From this level, a continued downward movement is possible to the upper fractal at 1.2516 (daily candle from 05/01/2024).
Alternatively, the price may move downward from the level of 1.2715 (closing of Friday's daily candlestick) to 1.2662, the 21-period EMA (black thin line). From this level, a continued downward movement is possible to the upper fractal at 1.2516 (daily candle from 05/01/2024).
