Trend analysis (Fig. 1).
The GBP/USD currency pair may move upward from the level of 1.2789 (closing of yesterday's daily candle) to the 14.6% pullback level at 1.2837 (yellow dotted line). In the case of testing this level, a continued upward movement is possible to the historical resistance level at 1.2847 (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 – up.
General conclusion: Today, the price may move upward from the level of 1.2789 (closing of yesterday's daily candle) to the 14.6% pullback level at 1.2837 (yellow dotted line). In the case of testing this level, a continued upward movement is possible to the historical resistance level at 1.2847 (blue dotted line).
Alternatively, from the level of 1.2789 (closing of yesterday's daily candle), the price may move upward to the 14.6% pullback level at 1.2837 (yellow dotted line). In the case of testing this level, a downward movement is possible to the historical resistance level at 1.2772 (blue dotted line).
