Indicator analysis: Daily review of GBP/USD on June 13, 2023
June 13, 2023 8:25 am
Trend analysis (Fig. 1).
The market may move upward from the level of 1.2506 (closing of yesterday’s daily candle) to test 1.2598, the upper fractal (blue dotted line). Upon testing this level, the price may move down to 1.2555, the 14.6% pullback level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – up;
Volumes – up;
Candlestick analysis – up;
Trend analysis – up;
Bollinger bands – up;
Weekly chart – up.
General conclusion:
Today, the price may move upward from the level of 1.2506 (closing of yesterday’s daily candle) to test 1.2598, the upper fractal (blue dotted line). Upon testing this level, the price may move down to 1.2555, the 14.6% pullback level (blue dotted line).
Alternatively, the price may move upward from the level of 1.2506 (closing of yesterday’s daily candle) to test 1.2598, the upper fractal (blue dotted line). Upon testing this level, the price may continue to rise with the target at 1.2624, the 85.4% pullback level (red 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 1.2506 (closing of yesterday’s daily candle) to test 1.2598, the upper fractal (blue dotted line). Upon testing this level, the price may move down to 1.2555, the 14.6% pullback level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move upward from the level of 1.2506 (closing of yesterday’s daily candle) to test 1.2598, the upper fractal (blue dotted line). Upon testing this level, the price may move down to 1.2555, the 14.6% pullback level (blue dotted line).
Alternatively, the price may move upward from the level of 1.2506 (closing of yesterday’s daily candle) to test 1.2598, the upper fractal (blue dotted line). Upon testing this level, the price may continue to rise with the target at 1.2624, the 85.4% pullback level (red dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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