Trend analysis (Fig. 1).
The GBP/USD currency pair may move downward from the level of 1.2701 (closing of yesterday's daily candle) to the 23.6% pullback level at 1.2683 (yellow dotted line). In the case of testing this level, an upward movement is possible to the 85.4% pullback level at 1.2733 (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Fibonacci levels – down;
- Volumes – down;
- Candlestick analysis – down;
- Trend analysis – up;
- Weekly chart – up;
- Bollinger bands – up.
General conclusion: Today, the price may move downward from the level of 1.2701 (closing of yesterday's daily candle) to the 23.6% pullback level at 1.2683 (yellow dotted line). In the case of testing this level, an upward movement is possible to the 85.4% pullback level at 1.2733 (blue dotted line).
Alternatively, from the level of 1.2701 (closing of yesterday's daily candle), the price may move downwards to the 61.8% pullback level at 1.2674 (blue dotted line). In the case of testing this level, an upward movement is possible to the 85.4% pullback level at 1.2733 (blue dotted line).
