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Trend analysis (Fig. 1).
The GBP/USD currency pair may move downward from 1.2730 (closing of Friday's daily candle) to the target level of 1.2665, the 38.2% pullback level (red dotted line). Upon reaching this level, a continued downward movement is possible.
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move downward from 1.2730 (closing of Friday's daily candle) to the target level of 1.2665, the 38.2% pullback level (red dotted line). Upon reaching this level, a continued downward movement is possible.
Alternatively, the price may move downward from 1.2730 (closing of Friday's daily candle) to the 1.2701 support level (thick blue line). Upon reaching this level, an upward movement is possible to the target level of 1.2740, the 23.6% pullback level (red dotted line).
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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