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02.04.202408:58 Forex Analysis & Reviews: Indicator Analysis of GBP/USD on April 2, 2024

Trend analysis (Fig. 1).

The GBP/USD currency pair may move upward from the level of 1.2547 (closing of yesterday's daily candle) to test the 14.6% pullback level at 1.2590 (red dotted line). Upon reaching this level, a continued upward movement is possible to test the 23.6% pullback level at 1.2622 (red dotted line).

Exchange Rates 02.04.2024 analysis

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion: Today, the price may move upward from the level of 1.2547 (closing of yesterday's daily candle) to test the 14.6% pullback level at 1.2590 (red dotted line). Upon reaching this level, a continued upward movement is possible to test the 23.6% pullback level at 1.2622 (red dotted line).

Alternatively, from the level of 1.2547 (closing of yesterday's daily candlestick), the price may move downward to test the lower fractal at 1.2518 (yellow dotted line). Upon reaching this level, an upward movement is possible to test the 14.6% pullback level at 1.2590 (red dotted line).

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

Stefan Doll,
Analytical expert of InstaSpot
© 2007-2024
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