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03.01.202409:02 Forex Analysis & Reviews: GBP/USD Indicator Analysis on January 3, 2024

Trend analysis (Fig. 1).

The GBP/USD currency pair may move upward from the level of 1.2612 (closing of yesterday's daily candle) to the 1.2667 resistance level (blue thick line). In the case of testing this level, a continued upward movement is possible with a target of 1.2718, the 61.8% pullback level (red dotted line).

Exchange Rates 03.01.2024 analysis

Fig. 1 (daily chart).

Comprehensive analysis:

  • Indicator analysis – up;
  • Fibonacci levels – up;
  • Volumes – up;
  • Candlestick analysis – down;
  • Trend analysis – up;
  • Weekly chart – up;
  • Bollinger bands – up.

General conclusion: Today, the price may move upward from the level of 1.2612 (closing of yesterday's daily candle) to the 1.2667 resistance level (blue thick line). In the case of testing this level, a continued upward movement is possible with a target of 1.2718, the 61.8% pullback level (red dotted line).

Alternatively, the price may move upward from the level of 1.2612 (closing of yesterday's daily candle) to the 1.2667 resistance level (blue thick line). In the case of testing this level, a downward movement is possible with a target of 1.2588, the 50% pullback level (red dotted line).

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Stefan Doll,
Analytical expert of InstaSpot
© 2007-2024
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