Indicator Analysis of GBP/USD on April 1, 2024 Forex analysis review

Trend analysis (Fig. 1).

The GBP/USD currency pair may move upward from the level of 1.2622 (closing of Friday’s daily candle) to the 23.6% pullback level at 1.2649 (red dotted line). If this level is reached, a continued upward movement is likely possible to the 38.2% pullback level at 1.2733 (red 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 1.2622 (closing of Friday’s daily candle) to the 23.6% pullback level at 1.2649 (red dotted line). If this level is reached, a continued upward movement is likely possible to the 38.2% pullback level at 1.2733 (red dotted line).

Alternatively, from the level of 1.2622 (closing of Friday’s daily candle), the price may move upward to the 61.8% pullback level at 1.2661 (yellow dotted line). If this level is reached, a downward movement is possible to the 23.6% pullback level at 1.2649 (red dotted line).

The material has been provided by InstaForex Company – www.instaforex.comTrend analysis (Fig. 1).The GBP/USD currency pair may move upward from the level of 1.2622 (closing of Friday’s daily candle) to the 23.6% pullback level at 1.2649 (red dotted line). If this level is reached, a continued upward movement is likely possible to the 38.2% pullback level at 1.2733 (red 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 1.2622 (closing of Friday’s daily candle) to the 23.6% pullback level at 1.2649 (red dotted line). If this level is reached, a continued upward movement is likely possible to the 38.2% pullback level at 1.2733 (red dotted line).Alternatively, from the level of 1.2622 (closing of Friday’s daily candle), the price may move upward to the 61.8% pullback level at 1.2661 (yellow dotted line). If this level is reached, a downward movement is possible to the 23.6% pullback level at 1.2649 (red dotted line).The material has been provided by InstaForex Company – www.instaforex.com  Read More 

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