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Trend analysis (Fig. 1).
The GBP/USD currency pair may move downward from the level of 1.2607 (closing of yesterday's daily candle) to 1.2577, the 14.6% pullback level (blue dotted line). In the case of testing this level, further downward movement is possible to 1.2448, the 85.4% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move downward from the level of 1.2607 (closing of yesterday's daily candle) to 1.2577, the 14.6% pullback level (blue dotted line). In the case of testing this level, further downward movement is possible to 1.2448, the 85.4% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.2607 (closing of yesterday's daily candle) to 1.2577, the 14.6% pullback level (blue dotted line). In case of testing this level, the price may move up with the target at 1.2678, the upper fractal (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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