FX.co ★ Indicator analysis: Daily review of GBP/USD for January 3, 2022

Trend analysis (Fig. 1).

The market may move down on Monday from the level of 1.3540 (closing of Friday's daily candle) to the target level of 1.3493, the 14.6% retracement level (red dotted line). Upon reaching this level, the price may move up to the target level of 1.3549, the upper fractal (red dotted line).

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger lines - up;

- Weekly chart - up.

General conclusion:

The price may move down from the level of 1.3540 (closing of Friday's daily candle) to the target level of 1.3493, the 14.6% retracement level (red dotted line). Upon reaching this level, the price may move up to the target level of 1.3549, the upper fractal (red dotted line).

Alternative scenario: from the level of 1.3540 (closing of Friday's daily candle), the price may move down to the target level of 1.3493, the 14.6% retracement level (red dotted line). Upon reaching this level, the price may continue to move down to the target level of 1.3459, the 23.6% retracement level (red dotted line), where the price may start to move up.