FX.co ★ Indicator analysis of GBP/USD for March 8, 2022

Trend analysis (Fig. 1).

The market may move up on Tuesday from 1.3100 (close of yesterday's daily candle) to the target level of 1.3179, the 14.6% retracement level (blue dotted line). In case of testing this level, the price may continue to move up to the target level of 1.3227, the 23.6% retracement level (blue dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

• Indicator analysis - up;
• Fibonacci levels - up;
• Volumes - up;
• Candlestick analysis - up;
• Trend analysis - up;
• Bollinger Bands - up;
• Weekly chart - up.

General conclusion:

The price may move up from the level of 1.3100 (close of yesterday's daily candle) to the target level of 1.3179, the 14.6% retracement level (blue dotted line). In case of testing this level, the price may continue to move up to the target level of 1.3227, the 23.6% retracement level (blue dotted line).

Alternative scenario: from the level of 1.3100 (close of yesterday's daily candle), the price may move down to the target level of 1.3026, the support line (thick white line). In case of testing this level, the price may move up to the target level of 1.3179, the 14.6% retracement level (blue dotted line).