Indicator analysis: Daily review of GBP/USD on June 9, 2023
June 9, 2023 8:26 amVideo
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Trend analysis (Fig. 1).
The market may move upward from the level of 1.2556 (closing of yesterday’s daily candle) with the target of 1.2582, the historical resistance level (blue dotted line). Upon reaching this level, a downward movement is possible with the target of 1.2523, 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 1.2556 (closing of yesterday’s daily candle) with the target of 1.2582, the historical resistance level (blue dotted line). Upon reaching this level, a downward movement is possible with the target of 1.2523, the 14.6% pullback level (blue dotted line).
Alternatively, the price may move downward from the level of 1.2556 (closing of yesterday’s daily candle) with the target of 1.2523, the 14.6% pullback level (blue dotted line). Upon reaching this level, an upward movement is possible with the target of 1.2582, the historical resistance level (blue dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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