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17.07.2025 12:12 PM
GBP/USD. Indicator Analysis on July 17th

Trend Analysis (Figure 1)

On Thursday, the market may continue its downward move from the 1.3417 level (yesterday's daily close), targeting 1.3369 – the lower fractal (yellow dashed line). From this level, the price may rebound upward toward 1.3405 – the historical resistance level (light blue dashed line).

This image is no longer relevant

Figure 1 (daily chart)

Comprehensive Analysis:

  • Indicator analysis – downward
  • Fibonacci levels – downward
  • Volume – downward
  • Candlestick analysis – downward
  • Trend analysis – downward
  • Bollinger Bands – downward
  • Weekly chart – downward

Overall conclusion: a bearish trend.

Alternative scenario: From the 1.3417 level (yesterday's daily close), the price may continue downward toward 1.3369 – the lower fractal (yellow dashed line). From this level, it may then continue further down toward 1.3293 – the historical resistance level (light blue dashed line).

Stefan Doll,
Analytical expert of InstaForex
© 2007-2025
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