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12.02.202409:21 Forex Analysis & Reviews: Indicator Analysis of GBP/USD on February 12, 2024

Trend analysis (Fig. 1).

The GBP/USD currency pair may move upward from the level of 1.2624 (closing of Friday's daily candle) to 1.2644, the 50% pullback level (blue dotted line). From this level, a continued upward movement is possible with a target of 1.2674, the 61.8% pullback level (blue dotted line).

Exchange Rates 12.02.2024 analysis

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion: Today, the price may move upward from the level of 1.2624 (closing of Friday's daily candle) to 1.2644, the 50% pullback level (blue dotted line). From this level, a continued upward movement is possible with a target of 1.2674, the 61.8% pullback level (blue dotted line).

Alternatively, the price may move upward from the level of 1.2624 (closing of Friday's daily candle) to 1.2644, the 50% pullback level (blue dotted line). From this level, a downward movement is possible with a target of 1.2628, the 8-period EMA (blue thin line). In the case of testing this level, the price may move up.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Stefan Doll,
Analytical expert of InstaSpot
© 2007-2025
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