empty
 
 
06.02.2023 10:02 AM
Indicator analysis: Daily review of GBP/USD on February 6, 2023

Trend analysis (Fig. 1).

The pound-dollar pair may move upward from the level of 1.2049 (closing of Friday's daily candle) to 1.2107, the 14.6% pullback level (yellow dotted line). When this level is reached, continued upward movement is possible with the target of 1.2143, the 23.6% pullback level (yellow dotted line). When testing this level, the price may continue to move up.

This image is no longer relevant

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move upward from the level of 1.2049 (closing of Friday's daily candle) to 1.2107, the 14.6% pullback level (yellow dotted line). When this level is reached, continued upward movement is possible with the target of 1.2143, the 23.6% pullback level (yellow dotted line). When testing this level, the price may continue to move up.

Alternatively, the price may move upward from the level of 1.2049 (closing of Friday's daily candle) to 1.2107, the 14.6% pullback level (yellow dotted line). When testing this level, the price may move down.

Stefan Doll,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback