Trend analysis (Fig. 1).
The GBP/USD currency pair may move downward from the level of 1.2559 (closing of yesterday's daily candle) to 1.2518, the historical support level (blue dotted line). In the case of testing this level, an upward movement is possible to the upper fractal at 1.2614 (daily candle from 12/12/2023). Much will depend on the news at 19:00 UTC.
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – down;Fibonacci levels – down;Volumes – down;Candlestick analysis – down;Trend analysis – down;Weekly chart – up;Bollinger bands – up.General conclusion: Today, the price may move downward from the level of 1.2559 (closing of yesterday's daily candle) to 1.2518, the historical support level (blue dotted line). In the case of testing this level, an upward movement is possible to the upper fractal at 1.2614 (daily candle from 12/12/2023).
Alternatively, the price may move downward from the level of 1.2559 (closing of yesterday's daily candle) to 1.2518, the historical support level (blue dotted line). In the case of testing this level, a continued downward movement is possible with a target of 1.2478, the 38.2% pullback level (yellow dotted line). When testing this level, the price may rise to 1.2582, the historical resistance level (blue dotted line).