This character is a Other Symbol and is commonly used, that is, in no specific script.
The glyph is not a composition. Its East Asian Width is wide. In bidirectional text it acts as Other Neutral. When changing direction it is not mirrored. The word that U+2653 forms with similar adjacent characters prevents a line break inside it.
The CLDR project calls this character “Pisces” for use in screen reading software. It assigns these additional labels, e.g. for search in emoji pickers: fish, horoscope, zodiac.
This character is designated as an emoji. It will be rendered as colorful emoji on conforming platforms. To reduce it to a monochrome character, you can combine it with Variation Selector-15: ♓︎ See the Emojipedia for more details on this character’s emoji properties.
The Wikipedia has the following information about this codepoint:
Pisces (♓︎) (; Ancient Greek: ἸχθύεςIkhthyes, Latin for "fishes") is the twelfth and final astrological sign in the zodiac. It is a mutable sign. It spans 330° to 360° of celestial longitude. Under the tropical zodiac, the sun transits this area between about February 19 and March 20. In classical interpretations, the symbol of the fish is derived from the ichthyocentaurs, who aided Aphrodite when she was born from the sea.
According to some tropical astrologers, the current astrological age is the Age of Pisces, while others maintain that currently it is the Age of Aquarius.