Trend analysis (Fig. 1).
The GBP/USD currency pair may move downward from the level of 1.2681 (closing of yesterday's daily candle) to test the 61.8% pullback level at 1.2674 (blue dotted line). Upon reaching this level, an upward movement is possible, with a target of testing the 76.4% pullback level at 1.2711 (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Volumes – down;
- Candlestick analysis – down;
- Trend analysis – up;
- Bollinger bands – down;
- Weekly chart – up.
General conclusion: Today, the price may move downward from the level of 1.2681 (closing of yesterday's daily candle) to test the 61.8% pullback level at 1.2674 (blue dotted line). Upon reaching this level, an upward movement is possible, with a target of testing the 76.4% pullback level at 1.2711 (blue dotted line).
Alternatively, from the level of 1.2681, the price may move downward to test 1.2662, the 5-period EMA (red thin line). Upon reaching this level, the price may move upward with the target of testing the 76.4% pullback level at 1.2711 (blue dotted line).
