Indicator analysis: Daily review of GBP/USD on April 28, 2023
April 28, 2023 9:22 am
Trend analysis (Fig. 1).
The market may move downward from the level of 1.2493 (closing of yesterday’s daily candle) with the target at 1.2437, the 85.4% pullback level (yellow dotted line). Upon reaching this level, an upward movement is possible with the target at 1.2546, the upper fractal (yellow dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – down;
Fibonacci levels – down;
Volumes – down;
Candlestick analysis – up;
Trend analysis – up;
Bollinger bands – up;
Weekly chart – up.
General conclusion:
Today, the price may move downward from the level of 1.2493 (closing of yesterday’s daily candle) with the target at 1.2437, the 85.4% pullback level (yellow dotted line). Upon reaching this level, an upward movement is possible with the target at 1.2546, the upper fractal (yellow dotted line).
Alternatively, the price may move downward from the level of 1.2493 (closing of yesterday’s daily candle) with the target at 1.2420, the 61.8% pullback level (blue dotted line). Upon reaching this level, an upward movement is possible with the target at 1.2546, the upper fractal (yellow dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
Trend analysis (Fig. 1).
The market may move downward from the level of 1.2493 (closing of yesterday’s daily candle) with the target at 1.2437, the 85.4% pullback level (yellow dotted line). Upon reaching this level, an upward movement is possible with the target at 1.2546, the upper fractal (yellow dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move downward from the level of 1.2493 (closing of yesterday’s daily candle) with the target at 1.2437, the 85.4% pullback level (yellow dotted line). Upon reaching this level, an upward movement is possible with the target at 1.2546, the upper fractal (yellow dotted line).
Alternatively, the price may move downward from the level of 1.2493 (closing of yesterday’s daily candle) with the target at 1.2420, the 61.8% pullback level (blue dotted line). Upon reaching this level, an upward movement is possible with the target at 1.2546, the upper fractal (yellow dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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