FX.co ★ Indicator Analysis of GBP/USD on March 11, 2024

Trend analysis (Fig. 1).

The GBP/USD currency pair may move downward from the level of 1.2855 (closing of Friday's daily candlestick) to the 14.6% pullback level at 1.2837 (yellow dotted line). From there, an upward movement is possible to the upper fractal at 1.2892 (yellow dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion: Today, the price may move downward from the level of 1.2855 (closing of Friday's daily candlestick) to the 14.6% pullback level at 1.2837 (yellow dotted line). From there, an upward movement is possible to the upper fractal at 1.2892 (yellow dotted line).

Alternatively, from the level of 1.2855 (closing of Friday's daily candle), the price may move downward to the 23.6% pullback level at 1.2804 (yellow dotted line). From there, an upward movement is possible to the upper fractal at 1.2892 (yellow dotted line).