Pair GBPUSD D1: 1 - Buyers of the Pound managed to end the day in their favor yesterday and are now attempting to continue the upward movement. Looking at the Bollinger Bands, the price started to pull back towards the central area of the bands after a strong move along the lower band. To receive a reliable signal for a price drop, it is advisable to wait for a new touch of the lower band and then assess whether the bands will expand outward or not. In terms of fractals, the price started to pull back upwards, slowing down its path towards the fractal from April 7. In this situation, it is better to wait for the formation of a new fractal closer to the current price to rely on it for a downward price movement. The nearest upward fractal is far from the current price level, so waiting for the formation of a new, closer fractal is recommended to have something to rely on for a price increase.
2 - The Awesome Oscillator indicator continues to rise actively in the negative zone, and it is still unclear when the first peak will form. This indicates that the price drop may continue further. To receive a reliable signal for a price increase, it is advisable to wait for a significant decrease towards the zero level.
