Indicator analysis: Daily review of GBP/USD on July 3, 2023
July 3, 2023 8:27 am
Trend analysis (Fig. 1).
The GBP/USD currency pair may move downward from the level of 1.2693 (closing of Friday’s daily candle) with the target at 1.2640, the 38.2% pullback level (blue dotted line). Upon reaching this level, an upward movement is possible with the target of 1.2688, the 38.2% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – down;
Fibonacci levels – down;
Volumes – down;
Candlestick analysis – down;
Trend analysis – down;
Bollinger bands – up;
Weekly chart – down.
General conclusion:
Today, the price may move downward from the level of 1.2693 (closing of Friday’s daily candle) with the target at 1.2640, the 38.2% pullback level (blue dotted line). Upon reaching this level, an upward movement is possible with the target of 1.2688, the 38.2% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.2693 (closing of Friday’s daily candle) with the target at 1.2627, the 14.6% pullback level (red dotted line). Upon reaching this level, an upward movement is possible with the target of 1.2688, the 38.2% 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 1.2693 (closing of Friday’s daily candle) with the target at 1.2640, the 38.2% pullback level (blue dotted line). Upon reaching this level, an upward movement is possible with the target of 1.2688, the 38.2% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move downward from the level of 1.2693 (closing of Friday’s daily candle) with the target at 1.2640, the 38.2% pullback level (blue dotted line). Upon reaching this level, an upward movement is possible with the target of 1.2688, the 38.2% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.2693 (closing of Friday’s daily candle) with the target at 1.2627, the 14.6% pullback level (red dotted line). Upon reaching this level, an upward movement is possible with the target of 1.2688, the 38.2% pullback level (red dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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