Indicator analysis: Daily review of GBP/USD on April 26, 2023
April 26, 2023 9:24 am
Trend analysis (Fig. 1).
The market may move upward from the level of 1.2405 (closing of yesterday’s daily candle) to the 1.2503 resistance level (bold white line). In the case of testing this level, the price may move downward with the target at 1.2467, the 38.2% pullback level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – up;
Fibonacci levels – up;
Volumes – up;
Candlestick analysis – up;
Trend analysis – up;
Weekly chart – up;
Bollinger Bands – up.
General conclusion:
Today, the price may move upward from the level of 1.2405 (closing of yesterday’s daily candle) to the 1.2503 resistance level (bold white line). In the case of testing this level, the price may move downward with the target at 1.2467, the 38.2% pullback level (blue dotted line).
Alternatively, the price may move upward from 1.2405 (closing of yesterday’s daily candle) to 1.2444, the 50.0% pullback level (blue dotted line). In the case of testing this level, the price may move downward with the target at 1.2342, the lower fractal (blue dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
Trend analysis (Fig. 1).
The market may move upward from the level of 1.2405 (closing of yesterday’s daily candle) to the 1.2503 resistance level (bold white line). In the case of testing this level, the price may move downward with the target at 1.2467, the 38.2% pullback level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move upward from the level of 1.2405 (closing of yesterday’s daily candle) to the 1.2503 resistance level (bold white line). In the case of testing this level, the price may move downward with the target at 1.2467, the 38.2% pullback level (blue dotted line).
Alternatively, the price may move upward from 1.2405 (closing of yesterday’s daily candle) to 1.2444, the 50.0% pullback level (blue dotted line). In the case of testing this level, the price may move downward with the target at 1.2342, the lower fractal (blue dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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