Indicator analysis: Daily review of GBP/USD on May 15, 2023
May 15, 2023 9:23 am
Trend analysis (Fig. 1).
The market may move upward from the level of 1.2443 (closing of Friday’s daily candle) with the target of 1.2510, the 50.0% pullback level (blue dotted line). From here, a downward movement is possible with the target of 1.2471, the 61.8% pullback level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – down;
Fibonacci levels – down;
Volumes – down;
Candlestick analysis – down;
Trend analysis – up;
Bollinger bands – down;
Weekly chart – down.
General conclusion:
Today, the price may move upward from the level of 1.2443 (closing of Friday’s daily candle) with the target of 1.2510, the 50.0% pullback level (blue dotted line). From here, a downward movement is possible with the target of 1.2471, the 61.8% pullback level (blue dotted line).
Alternatively, the price may move downward from the level of 1.2443 (closing of Friday’s daily candle) with the target of 1.2422, the 76.4% pullback level (blue dotted line). From here, an upward movement is possible to the support at 1.2443 (thick white 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 1.2443 (closing of Friday’s daily candle) with the target of 1.2510, the 50.0% pullback level (blue dotted line). From here, a downward movement is possible with the target of 1.2471, the 61.8% pullback level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move upward from the level of 1.2443 (closing of Friday’s daily candle) with the target of 1.2510, the 50.0% pullback level (blue dotted line). From here, a downward movement is possible with the target of 1.2471, the 61.8% pullback level (blue dotted line).
Alternatively, the price may move downward from the level of 1.2443 (closing of Friday’s daily candle) with the target of 1.2422, the 76.4% pullback level (blue dotted line). From here, an upward movement is possible to the support at 1.2443 (thick white line).
The material has been provided by InstaForex Company – www.instaforex.com
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