Indicator analysis: Daily review of GBP/USD on June 8, 2023
June 8, 2023 9:23 am
Trend analysis (Fig. 1).
The market may move upward from the level of 1.2433 (closing of yesterday’s daily candle) with the target of 1.2492, the 50.0% pullback level (red dotted line). When testing this level, the price may move down with the target of 1.2460, the historical support level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – up;
Fibonacci levels – up;
Volumes – up;
Candlestick analysis – up;
Trend analysis – up;
Bollinger bands – down;
Weekly chart – up.
General conclusion:
Today, the market may move upward from the level of 1.2433 (closing of yesterday’s daily candle) with the target of 1.2492, the 50.0% pullback level (red dotted line). When testing this level, the price may move down with the target of 1.2460, the historical support level (blue dotted line).
Alternatively, the price may move upward from the level of 1.2433 (closing of yesterday’s daily candle) with the target of 1.2460, the historical support level (blue dotted line). When testing this level, the price may move down with the target of 1.2425, the 50.0% pullback level (blue 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 1.2433 (closing of yesterday’s daily candle) with the target of 1.2492, the 50.0% pullback level (red dotted line). When testing this level, the price may move down with the target of 1.2460, the historical support level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the market may move upward from the level of 1.2433 (closing of yesterday’s daily candle) with the target of 1.2492, the 50.0% pullback level (red dotted line). When testing this level, the price may move down with the target of 1.2460, the historical support level (blue dotted line).
Alternatively, the price may move upward from the level of 1.2433 (closing of yesterday’s daily candle) with the target of 1.2460, the historical support level (blue dotted line). When testing this level, the price may move down with the target of 1.2425, the 50.0% pullback level (blue dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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