FX.co ★ Indicator Analysis of GBP/USD on January 10, 2024

Trend analysis (Fig. 1).

The GBP/USD currency pair may move downward from the level of 1.2705 (closing of yesterday's daily candle) to 1.2672, the 21-period EMA (black thin line). In the case of testing this level, an upward movement is possible with a target of 1.2718, the 61.8% pullback level (red dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion: Today, the price may move downward from the level of 1.2705 (closing of yesterday's daily candle) to 1.2672, the 21-period EMA (black thin line). In the case of testing this level, an upward movement is possible with a target of 1.2718, the 61.8% pullback level (red dotted line).

Alternatively, the price may move downward from the level of 1.2705 (closing of yesterday's daily candle) to 1.2639, the 23.6% pullback level (yellow dotted line). In the case of testing this level, an upward movement is possible with a target of 1.2718, the 61.8% pullback level (red dotted line).