Trend analysis (Fig. 1).
The GBP/USD currency pair may move upward from the level of 1.2532 (closing of yesterday's daily candle) to test the 14.6% pullback level at 1.2554 (blue dotted line). Upon reaching this level, a continued upward movement is possible to test the 23.6% pullback level at 1.2577 (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – 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 1.2532 (closing of yesterday's daily candle) to test the 14.6% pullback level at 1.2554 (blue dotted line). Upon reaching this level, a continued upward movement is possible to test the 23.6% pullback level at 1.2577 (blue dotted line).
Alternatively, the price may move upward from the level of 1.2532 (closing of yesterday's daily candlestick) to test the 14.6% pullback level at 1.2554 (blue dotted line). Upon reaching this level, the price may move down.
