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Trend analysis (Fig. 1).
The GBP/USD currency pair may move upward from the level of 1.2632 (closing of yesterday's daily candle) to test the 61.8% pullback level at 1.2661 (yellow dotted line). Upon reaching this level, a continued upward movement is possible to test the 38.2% pullback level at 1.2695 (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion: Today, the price may move upward from the level of 1.2632 (closing of yesterday's daily candle) to test the 61.8% pullback level at 1.2661 (yellow dotted line). Upon reaching this level, a continued upward movement is possible to test the 38.2% pullback level at 1.2695 (red dotted line).
Alternatively, from the level of 1.2632 (closing of yesterday's daily candlestick), the price may move upward to test the 61.8% pullback level at 1.2661 (yellow dotted line). Upon reaching this level, a downward movement is possible to test the 23.6% pullback level at 1.2649 (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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