You are here: Home > articles > Forex > Indicator analysis: Daily review of GBP/USD on October 3, 2023
Indicator analysis: Daily review of GBP/USD on October 3, 2023
October 3, 2023 8:22 amVideo
Latest News
- EUR/USD: trading scenarios on April 11, 2024 April 11, 2024
- Analysis and trading tips for USD/JPY on April 11 (US session) April 11, 2024
- Analysis and trading tips for GBP/USD on April 11 (US session) April 11, 2024
- Analysis and trading tips for EUR/USD on April 11 (US session) April 11, 2024
- Technical Analysis – USDCAD surges to new almost 5-month high April 11, 2024
- Technical Analysis – EURGBP’s double bottom still waits for confirmation April 11, 2024
- Technical Analysis – US 30 index slides below 50-day SMA April 11, 2024
- Video market update for April 11, 2024 April 11, 2024
- EUR/USD. April 11th. Fed minutes: inflation concerns persist April 11, 2024
- GBP/USD. April 11th. The US inflation report shocked the bulls April 11, 2024
- Technical Analysis – USDCHF unlocks 6-month high April 11, 2024
- Overview of the GBP/USD pair on April 11, 2024 April 11, 2024
- Overview of the EUR/USD pair. April 11th. The market couldn’t hold up after the inflation report April 11, 2024
- Analysis and trading tips for USD/JPY on April 11 April 11, 2024
- What’s behind the US economy’s resilience? – Special Report April 11, 2024
- Technical Analysis – AUDUSD plummets in the US CPI aftermath April 11, 2024
- Technical Analysis – WTI oil pauses rally but remains supported April 11, 2024
- Market Comment – Dollar surges across the board on hot inflation data April 11, 2024
- EUR/USD and GBP/USD: Technical analysis on April 11 April 11, 2024
- Key events on April 11: fundamental analysis for beginners April 11, 2024
Trend analysis (Fig. 1).
The GBP/USD currency pair may move downward from the level of 1.2083 (closing of yesterday’s daily candle) to test 1.2015, the historical support level (blue dotted line). Upon testing this level, an upward movement is possible to the lower fractal at 1.2109 (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion: Today, the price may move downward from the level of 1.2083 (closing of yesterday’s daily candle) to test 1.2015, the historical support level (blue dotted line). Upon testing this level, an upward movement is possible to the lower fractal at 1.2109 (red dotted line).
Alternatively, the price may move downward from the level of 1. 1.2083 (closing of yesterday’s daily candle) to test the 1.2049 support level (red thick line). Upon testing this level, an upward movement is possible to the lower fractal at 1.2109 (red dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: