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29.03.202309:40 Forex Analysis & Reviews: Indicator analysis: Daily review of GBP/USD on March 29, 2023

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Trend analysis (Fig. 1).

The pound-dollar pair may move down from 1.2338 (closing of yesterday's daily candle) to 1.2294, the 76.4% pullback level (blue dotted line). In the case of testing this level, the price may move up with the target of 1.2352, the 85.4% pullback level (blue dotted line).

Exchange Rates 29.03.2023 analysis

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move down from 1.2338 (closing of yesterday's daily candle) to 1.2294, the 76.4% pullback level (blue dotted line). In the case of testing this level, the price may move up with the target of 1.2352, the 85.4% pullback level (blue dotted line).

Alternatively, the price may move down from the level of 1.2338 (closing of yesterday's daily candle) to 1.2264, the 14.6% pullback level (yellow dotted line). In the case of testing this level, the price may move up with the target of 1.2352, the 85.4% pullback level (blue dotted line).

Stefan Doll
Analytical expert of InstaForex
© 2007-2024

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