Trend analysis (Fig. 1).
The GBP/USD currency pair may rise from the level of 1.2618 (closing of yesterday's daily candle) to 1.2639, the 23.6% pullback level (yellow dotted line). In the case of testing this level, a decline may occur with a target of 1.2614, the 38.2% 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;
- Weekly chart – up;
- Bollinger bands – down.
General conclusion: Today, the price may rise from the level of 1.2618 (closing of yesterday's daily candle) to 1.2639, the 23.6% pullback level (yellow dotted line). In the case of testing this level, a decline may occur with a target of 1.2614, the 38.2% pullback level (blue dotted line).
Alternatively, the price may rise from the level of 1.2618 (closing of yesterday's daily candle) to 1.2644, the 50% pullback level (blue dotted line). In the case of testing this level, a decline is possible with a target of 1.2614, the 38.2% pullback level (blue dotted line).
