FX.co ★ GBP/USD Indicator Analysis on January 8, 2024

Trend analysis (Fig. 1).

The GBP/USD currency pair may move downward from the level of 1.2715 (closing of Friday's daily candlestick) to 1.2686, the 13-period EMA (yellow thin line). From this level, a continued downward movement is possible to the upper fractal at 1.2516 (daily candle from 05/01/2024).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion: Today, the price may move downward from the level of 1.2715 (closing of Friday's daily candlestick) to 1.2686, the 13-period EMA (yellow thin line). From this level, a continued downward movement is possible to the upper fractal at 1.2516 (daily candle from 05/01/2024).

Alternatively, the price may move downward from the level of 1.2715 (closing of Friday's daily candlestick) to 1.2662, the 21-period EMA (black thin line). From this level, a continued downward movement is possible to the upper fractal at 1.2516 (daily candle from 05/01/2024).