FX.co ★ Indicator Analysis of GBP/USD on February 21, 2024

Trend analysis (Fig. 1).

The GBP/USD currency pair may rise from the level of 1.2618 (closing of yesterday's daily candle) to 1.2639, the 23.6% pullback level (yellow dotted line). In the case of testing this level, a decline may occur with a target of 1.2614, the 38.2% 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;
• Weekly chart – up;
• Bollinger bands – down.

General conclusion: Today, the price may rise from the level of 1.2618 (closing of yesterday's daily candle) to 1.2639, the 23.6% pullback level (yellow dotted line). In the case of testing this level, a decline may occur with a target of 1.2614, the 38.2% pullback level (blue dotted line).

Alternatively, the price may rise from the level of 1.2618 (closing of yesterday's daily candle) to 1.2644, the 50% pullback level (blue dotted line). In the case of testing this level, a decline is possible with a target of 1.2614, the 38.2% pullback level (blue dotted line).