FX.co ★ Indicator analysis: Daily review of GBP/USD on February 7, 2022

Trend analysis (Fig. 1).

The market may move down on Monday from the level of 1.3524 (close of Friday's daily candle) to the target level of 1.3460, the 61.8% retracement level (red dotted line). Upon reaching this level, the price may move up to the target level of 1.3551, the 50% retracement level (blue dotted line).

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger bands - down;

- Weekly chart - down.

General conclusion:

The price may move down today from the level of 1.3524 (close of Friday's daily candle) to the target level of 1.3460, the 61.8% retracement level (red dotted line). Upon reaching this level, the price may move up to the target level of 1.3551, the 50% retracement level (blue dotted line).

Alternative scenario: from the level of 1.3524 (close of Friday's daily candle), the price may continue to move up to the target level of 1.3654, the resistance line (bold yellow line).