Indicator Analysis of GBP/USD on February 26, 2024

Trend analysis (Fig. 1).

The GBP/USD currency pair may move upward from the level of 1.2667 (closing of Friday's daily candlestick) to 1.2711, the 14.6% pullback level (yellow dotted line). From this level, a downward movement is possible with a target of 1.2674, the 61.8% pullback level (blue dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

Indicator analysis – up;Fibonacci levels – up;Volumes – up;Candlestick analysis – up;Trend analysis – up;Bollinger bands – up;Weekly chart – up.

General conclusion: Today, the price may move upward from the level of 1.2667 (closing of Friday's daily candlestick) to 1.2711, the 14.6% pullback level (yellow dotted line). From this level, a downward movement is possible with a target of 1.2674, the 61.8% pullback level (blue dotted line).

Alternatively, the price may move upward from the level of 1.2667 (closing of Friday's daily candlestick) to 1.2711, the 14.6% pullback level (yellow dotted line). From this level, a continued upward movement is possible with a target of 1.2733, the 85.4% pullback level (blue dotted line).