FX.co ★ Indicator analysis of GBP/USD for February 10, 2022

Trend analysis (Fig. 1).

The market may move down on Thursday from the level of 1.3530 (close of yesterday's daily candle) to test 1.3491, the 50.0% retracement level (red dotted line). Upon reaching this level, the price may start moving up to the target level of 1.3579, the 61.8% retracement level (yellow dotted line).

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger bands - up;

- Weekly chart - down.

General conclusion:

The price may move down from the level of 1.3530 (close of yesterday's daily candle) to test 1.3491, the 50.0% retracement level (red dotted line). Upon reaching this level, the price may start moving up to the target level of 1.3579, the 61.8% retracement level (yellow dotted line).

Alternative scenario: from the level of 1.3530 (close of yesterday's daily candle), the price may start to move up to test 1.3579, the 61.8% retracement level (yellow dotted line). Upon reaching this level, the price may continue to move upward to the target level of 1.3618, the historical resistance level (blue dotted line).