Trend Analysis (Fig. 1)
On Friday, GBP/USD may continue to fall from the level of 1.2940 (yesterday's daily candle close), as it aims for 1.2923 – the 8 EMA (thin blue line). Upon testing this line, the price may start rising with the target of 1.2980 – the 14.6% retracement level (red dashed line).
Fig. 1 (daily chart)
Comprehensive Analysis:
Indicator Analysis – down;Fibonacci Levels – down;Volumes – down;Candlestick Analysis – down;Trend Analysis – up;Bollinger Bands – up;Weekly Chart – up.General Conclusion:
Today, the price may continue to fall from the level of 1.2940 (yesterday's daily candle close), as it aims for 1.2923 – the 8 EMA (thin blue line). Upon testing this line, the price may start rising with the target of 1.2980 – the 14.6% retracement level (red dashed line).
Alternative Scenario: GBP/USD may continue to fall from the level of 1.2940 (yesterday's daily candle close), as it aims for 1.2885 – the 13 EMA (thin yellow line). Upon testing this line, the price may start rising with the target of 1.2980 – the 14.6% retracement level (red dashed line).