Trend analysis (Fig. 1).
The GBP/USD currency pair may move upward from the level of 1.2596 (closing of Friday's daily candlestick) to 1.2614, the 38.2% pullback level (blue dotted line). From this level, a continued upward movement is possible with a target of 1.2644, the 50% pullback 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 1.2596 (closing of Friday's daily candlestick) to 1.2614, the 38.2% pullback level (blue dotted line). From this level, a continued upward movement is possible with a target of 1.2644, the 50% pullback level (blue dotted line).
Alternatively, the price may move upward from the level of 1.2596 (closing of Friday's daily candlestick) to 1.2630, the 21-day EMA (black thin line). From this level, a downward movement is possible with a target of 1.2611, the historical support level (blue dotted line).
