Indicator analysis: Daily review of GBP/USD on August 25, 2023
August 25, 2023 9:26 am
Trend analysis (Fig. 1).
The GBP/USD currency pair may move downward from the level of 1.2597 (closing of yesterday’s daily candle) to the target level at 1.2550, the lower limit of the Bollinger band indicator (black dotted line). Upon reaching this level, an upward movement is possible to 1.2648, the 5-day EMA (red thin line).
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – down;
Fibonacci levels – down;
Volumes – down;
Candlestick analysis – down;
Trend analysis – down;
Bollinger bands – down;
Weekly chart – down.
General conclusion:
Today, the price may move downward from the level of 1.2597 (closing of yesterday’s daily candle) to the target level at 1.2550, the lower limit of the Bollinger band indicator (black dotted line). Upon reaching this level, an upward movement is possible to 1.2648, the 5-day EMA (red thin line).
Alternatively, the price may move downward from the level of 1.2597 (closing of yesterday’s daily candle) to the target level at 1.2550, the lower limit of the Bollinger band indicator (black dotted line). Upon reaching this level, an upward movement is possible to 1.2615, the lower fractal (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 1.2597 (closing of yesterday’s daily candle) to the target level at 1.2550, the lower limit of the Bollinger band indicator (black dotted line). Upon reaching this level, an upward movement is possible to 1.2648, the 5-day EMA (red thin line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move downward from the level of 1.2597 (closing of yesterday’s daily candle) to the target level at 1.2550, the lower limit of the Bollinger band indicator (black dotted line). Upon reaching this level, an upward movement is possible to 1.2648, the 5-day EMA (red thin line).
Alternatively, the price may move downward from the level of 1.2597 (closing of yesterday’s daily candle) to the target level at 1.2550, the lower limit of the Bollinger band indicator (black dotted line). Upon reaching this level, an upward movement is possible to 1.2615, the lower fractal (red dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: