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Trend analysis (Fig. 1).
The GBP/USD currency pair may move downward from the level of 1.2669 (closing of yesterday's daily candle) to the target at 1.2643, the 38.2% pullback level (red dotted line). Upon reaching this level, an upward movement is possible to 1.2702, the 61.8% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move downward from the level of 1.2669 (closing of yesterday's daily candle) to the target at 1.2643, the 38.2% pullback level (red dotted line). Upon reaching this level, an upward movement is possible to 1.2702, the 61.8% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.2669 (closing of yesterday's daily candle) to the target at 1.2606, the 23.6% pullback level (red dotted line). Upon reaching this level, an upward movement is possible to 1.2702, the 61.8% 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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