Main Quotes Calendar Forum
flag

FX.co ★ Indicator Analysis of GBP/USD on March 1, 2024

parent
Forex Analysis:::2024-03-01T07:11:20

Indicator Analysis of GBP/USD on March 1, 2024

Trend analysis (Fig. 1).

The GBP/USD currency pair may move upward from the level of 1.2619 (closing of yesterday's daily candle) to 1.2645, the 50% pullback level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.2674, the 61.8% pullback level (blue dotted line).

Indicator Analysis of GBP/USD on March 1, 2024

Fig. 1 (daily chart).

Comprehensive analysis:

  • Indicator analysis – up;
  • Fibonacci levels – up;
  • Volumes – up;
  • Candlestick analysis – down;
  • Trend analysis – up;
  • Bollinger bands – up;
  • Weekly chart – up.

General conclusion: Today, the price may move upward from the level of 1.2619 (closing of yesterday's daily candle) to 1.2645, the 50% pullback level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.2674, the 61.8% pullback level (blue dotted line).

Alternatively, from the level of 1.2619 (closing of yesterday's daily candle), the price may move upward to 1.2645, the 50% pullback level (blue dotted line). In the case of testing this level, a downward movement is possible with a target of 1.2644, the 38.2% pullback level (blue dotted line).

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...