FX.co ★ Indicator Analysis of GBP/USD on March 1, 2024

Trend analysis (Fig. 1).

The GBP/USD currency pair may move upward from the level of 1.2619 (closing of yesterday's daily candle) to 1.2645, the 50% pullback level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.2674, the 61.8% pullback level (blue dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion: Today, the price may move upward from the level of 1.2619 (closing of yesterday's daily candle) to 1.2645, the 50% pullback level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.2674, the 61.8% pullback level (blue dotted line).

Alternatively, from the level of 1.2619 (closing of yesterday's daily candle), the price may move upward to 1.2645, the 50% pullback level (blue dotted line). In the case of testing this level, a downward movement is possible with a target of 1.2644, the 38.2% pullback level (blue dotted line).