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Trend analysis (Fig. 1).
The GBP/USD currency pair may move upward from the level of 1.2667 (closing of Friday's daily candlestick) to 1.2711, the 14.6% pullback level (yellow dotted line). From this level, a downward movement is possible with a target of 1.2674, the 61.8% pullback level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion: Today, the price may move upward from the level of 1.2667 (closing of Friday's daily candlestick) to 1.2711, the 14.6% pullback level (yellow dotted line). From this level, a downward movement is possible with a target of 1.2674, the 61.8% pullback level (blue dotted line).
Alternatively, the price may move upward from the level of 1.2667 (closing of Friday's daily candlestick) to 1.2711, the 14.6% pullback level (yellow dotted line). From this level, a continued upward movement is possible with a target of 1.2733, the 85.4% pullback level (blue 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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