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Trend Analysis (Fig. 1)
Today, GBP/USD may start moving upward from the 1.2908 level (the close of Friday's daily candle) with a target of 1.2941 – the 23.6% retracement level (red dotted line). The price will likely rise from this level with a target of 1.2980 – the 14.6% retracement level (red dotted line).
Fig. 1 (daily chart)
Comprehensive Analysis:
General Conclusion:
Today, GBP/USD may start moving upward from the 1.2908 level (the close of Friday's daily candle) with a target of 1.2941 – the 23.6% retracement level (red dotted line). The price will likely rise from this level with a target of 1.2980 – the 14.6% retracement level (red dotted line).
Alternative Scenario: The pair may attempt to continue the downward movement from the level of 1.2908 (the close of Friday's daily candle) with a target of 1.2820 – the 8 EMA (blue thin line). The price will likely rise from this line with a target of 1.2980 – the 14.6% retracement 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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