Indicator analysis: Daily review of GBP/USD on September 6, 2023
September 6, 2023 9:24 am
Trend analysis (Fig. 1).
The GBP/USD currency pair may move upward from the level of 1.2560 (closing of yesterday’s daily candle) to 1.2583, the 14.6% pullback level (red dotted line). In the case of testing this level, the price may continue to move upwards to 1.2606, the 23.6% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – up;
Fibonacci levels – up;
Volumes – up;
Candlestick analysis – up;
Trend analysis – down;
Weekly chart – up;
Bollinger bands – down.
Overall conclusion: Today, the price may move upward from the level of 1.2560 (closing of yesterday’s daily candle) to 1.2583, the 14.6% pullback level (red dotted line). In the case of testing this level, the price may continue to move upwards to 1.2606, the 23.6% pullback level (red dotted line).
Alternatively, the price may move upward from the level of 1.2560 (closing of yesterday’s daily candle) to 1.2583, the 14.6% pullback level (red dotted line). In the case of testing this level, the price may move downward to 1.2524, the historical support 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 upward from the level of 1.2560 (closing of yesterday’s daily candle) to 1.2583, the 14.6% pullback level (red dotted line). In the case of testing this level, the price may continue to move upwards to 1.2606, the 23.6% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
Overall conclusion: Today, the price may move upward from the level of 1.2560 (closing of yesterday’s daily candle) to 1.2583, the 14.6% pullback level (red dotted line). In the case of testing this level, the price may continue to move upwards to 1.2606, the 23.6% pullback level (red dotted line).
Alternatively, the price may move upward from the level of 1.2560 (closing of yesterday’s daily candle) to 1.2583, the 14.6% pullback level (red dotted line). In the case of testing this level, the price may move downward to 1.2524, the historical support level (red dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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