FX.co ★ Indicator Analysis of GBP/USD on January 30, 2024

Trend analysis (Fig. 1).

The GBP/USD currency pair may move downward from the level of 1.2704 (closing of yesterday's daily candle) to test 1.2667, the 38.2% pullback level (blue dotted line). Upon reaching this level, an upward movement is possible to test 1.2690, the 50% pullback level (blue dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion: Today, the price may move downward from the level of 1.2704 (closing of yesterday's daily candle) to test 1.2667, the 38.2% pullback level (blue dotted line). Upon reaching this level, an upward movement is possible to test 1.2690, the 50% pullback level (blue dotted line).

Alternatively, the price may move downward from the level of 1.2704 (closing of yesterday's daily candle) to test 1.2690, the 50% pullback level (blue dotted line). Upon reaching this level, an upward movement is possible to test 1.2712, the 61.8% pullback level (blue dotted line).