Trend analysis (Fig. 1).
The GBP/USD currency pair may move downward from the level of 1.2705 (closing of yesterday's daily candle) to 1.2672, the 21-period EMA (black thin line). In the case of testing this level, an upward movement is possible with a target of 1.2718, the 61.8% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Fibonacci levels – up;
- Volumes – down;
- Candlestick analysis – down;
- Trend analysis – down;
- Weekly chart – down;
- Bollinger bands – up.
General conclusion: Today, the price may move downward from the level of 1.2705 (closing of yesterday's daily candle) to 1.2672, the 21-period EMA (black thin line). In the case of testing this level, an upward movement is possible with a target of 1.2718, the 61.8% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.2705 (closing of yesterday's daily candle) to 1.2639, the 23.6% pullback level (yellow dotted line). In the case of testing this level, an upward movement is possible with a target of 1.2718, the 61.8% pullback level (red dotted line).
