FX.co ★ Indicator Analysis of GBP/USD on March 15, 2024

Trend analysis (Fig. 1).

The GBP/USD currency pair may move downward from the level of 1.2750 (closing of yesterday's daily candle) to 1.2720, the 21-period EMA (black thin line). In the case of testing this level, an upward movement is possible to 1.2749, the 38.2% pullback level (yellow dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion: Today, the price may move downward from the level of 1.2750 (closing of yesterday's daily candle) to 1.2720, the 21-period EMA (black thin line). In the case of testing this level, an upward movement is possible to 1.2749, the 38.2% pullback level (yellow dotted line).

Alternatively, from the level of 1.2750 (closing of yesterday's daily candle), the price may move downward to 1.2705, the 50% pullback level (yellow dotted line). In the case of testing this level, an upward movement is possible to 1.2749, the 38.2% pullback level (yellow dotted line).