FX.co ★ Indicator analysis. GBP/USD daily outlook for March 11, 2022

Trend analysis (Figure 1).

On Friday the market will try to move up from 1.3080 (yesterday's daily candlestick close) with the target 1.3202, which is a historical resistance level (blue dotted line). After testing this level, the price may continue to move upwards with the target 1.3295, which is a pullback level of 38.2% (blue dotted line).

Figure 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.

Conclusion:

Today the price from 1.3080 (yesterday's daily candlestick close) will try to start moving upwards with the target 1.3202, which is a historical resistance level (blue dotted line). After testing this level, the price may continue to move upwards with a target of 1.3295, a pullback level of 38.2% (blue dotted line).

Unlikely scenario: from the level of 1.3080 (yesterday's daily candlestick close) the pair will try to continue downward movement with the target 1.3010, target level of 161.8% (red dotted line). After testing this level, the price may start moving upwards with the target 1.3162, a pullback level of 14.6% (blue dotted line).