FX.co ★ Indicator Analysis of GBP/USD on February 27, 2024

Trend analysis (Fig. 1).

The GBP/USD currency pair may move downward from the level of 1.2681 (closing of yesterday's daily candle) to test the 61.8% pullback level at 1.2674 (blue dotted line). Upon reaching this level, an upward movement is possible, with a target of testing the 76.4% pullback level at 1.2711 (blue dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion: Today, the price may move downward from the level of 1.2681 (closing of yesterday's daily candle) to test the 61.8% pullback level at 1.2674 (blue dotted line). Upon reaching this level, an upward movement is possible, with a target of testing the 76.4% pullback level at 1.2711 (blue dotted line).

Alternatively, from the level of 1.2681, the price may move downward to test 1.2662, the 5-period EMA (red thin line). Upon reaching this level, the price may move upward with the target of testing the 76.4% pullback level at 1.2711 (blue dotted line).