Indicator analysis: Daily review of GBP/USD on June 1, 2023
June 1, 2023 9:24 amVideo
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Trend analysis (Fig. 1).
The market may move downward from the level of 1.2437 (closing of yesterday’s daily candle) with the target of 1.2406, the 8-day EMA (thin blue line). In the case of testing this level, the price may move upwards with the target of 1.2448, the 38.2% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the market may move downward from the level of 1.2437 (closing of yesterday’s daily candle) with the target of 1.2406, the 8-day EMA (thin blue line). In the case of testing this level, the price may move upwards with the target of 1.2448, the 38.2% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.2437 (closing of yesterday’s daily candle) with the target of 1.2394, the 23.6% pullback level (red dotted line). In case of testing this level, the price may rise towards 1.2448, the 38.2% pullback level (red dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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