Indicator analysis: Daily review of GBP/USD on August 14, 2023
August 14, 2023 8:25 am
Trend analysis (Fig. 1).
The GBP/USD currency pair may move downward from the level of 1.2690 (closing of Friday’s daily candle) with the target at 1.2665, the lower fractal (daily candle from 08/11/2023). Upon reaching this level, an upward movement is possible to 1.2742, the 23.6% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – down;
Fibonacci levels – down;
Volumes – down;
Candlestick analysis – up;
Trend analysis – up;
Bollinger bands – down;
Weekly chart – down.
General conclusion:
Today, the price may move downward from the level of 1.2690 (closing of Friday’s daily candle) with the target at 1.2665, the lower fractal (daily candle from 08/11/2023). Upon reaching this level, an upward movement is possible to 1.2742, the 23.6% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.2690 (closing of Friday’s daily candle) with the target at 1.2620, the lower fractal (red dotted line). Upon reaching this level, an upward movement is possible to 1.2742, the 23.6% pullback level (red dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
Trend analysis (Fig. 1).
The GBP/USD currency pair may move downward from the level of 1.2690 (closing of Friday’s daily candle) with the target at 1.2665, the lower fractal (daily candle from 08/11/2023). Upon reaching this level, an upward movement is possible to 1.2742, the 23.6% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move downward from the level of 1.2690 (closing of Friday’s daily candle) with the target at 1.2665, the lower fractal (daily candle from 08/11/2023). Upon reaching this level, an upward movement is possible to 1.2742, the 23.6% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.2690 (closing of Friday’s daily candle) with the target at 1.2620, the lower fractal (red dotted line). Upon reaching this level, an upward movement is possible to 1.2742, the 23.6% pullback level (red dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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