Trend analysis (Fig. 1).
The GBP/USD currency pair may move upward from 1.2698 (closing of Friday's daily candlestick) to 1.2719, the 61.8% pullback level (red dotted line). From this level, a downward movement is possible to 1.2690, the 50% pullback level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Fibonacci levels – down;
- Volumes – down;
- Candlestick analysis – down;
- Trend analysis – down;
- Bollinger bands – down;
- Weekly chart – down.
General conclusion: Today, the price may move upward from 1.2698 (closing of Friday's daily candlestick) to 1.2719, the 61.8% pullback level (red dotted line). From this level, a downward movement is possible to 1.2690, the 50% pullback level (blue dotted line).
Alternatively, the price may move upward from the level of 1.2698 (closing of Friday's daily candlestick) to 1.2719, the 61.8% pullback level (red dotted line). From this level, a continued upward movement is possible with a target of 1.2733, the historical resistance level (blue dotted line).
