Indicator analysis: Daily review of GBP/USD on June 29, 2023
June 29, 2023 9:24 am
Trend analysis (Fig. 1).
The GBP/USD currency pair may move downward from the level of 1.2631 (closing of yesterday’s daily candle) with the target of 1.2582, the historical support level (blue dotted line). When testing this level, the price may rise with the target of 1.2640, the 14.6% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – down;
Fibonacci levels – down;
Volumes – up;
Candlestick analysis – up;
Trend analysis – down;
Bollinger bands – down;
Weekly chart – down.
General conclusion:
Today, the price may move downward from the level of 1.2631 (closing of yesterday’s daily candle) with the target of 1.2582, the historical support level (blue dotted line). When testing this level, the price may rise with the target of 1.2640, the 14.6% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.2631 (closing of yesterday’s daily candle) to the 1.2546 support level (thick blue line). When testing this level, an upward movement is possible with the target of 1.2640, the 14.6% 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 1.2631 (closing of yesterday’s daily candle) with the target of 1.2582, the historical support level (blue dotted line). When testing this level, the price may rise with the target of 1.2640, the 14.6% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move downward from the level of 1.2631 (closing of yesterday’s daily candle) with the target of 1.2582, the historical support level (blue dotted line). When testing this level, the price may rise with the target of 1.2640, the 14.6% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.2631 (closing of yesterday’s daily candle) to the 1.2546 support level (thick blue line). When testing this level, an upward movement is possible with the target of 1.2640, the 14.6% pullback level (red dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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