FX.co ★ Indicator analysis of GBP/USD for March 15, 2022

Trend analysis (Fig. 1).

The market may move up on Tuesday from the level of 1.3001 (close of yesterday's daily candle) to the target level of 1.3100, 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 1.3158, 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 1.3001 (close of yesterday's daily candle) to the target level of 1.3100, 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 1.3158, the 23.6% retracement level (blue dotted line).

Unlikely scenario: from the level of 1.3001 (close of yesterday's daily candle), the price may move downward to the target level of 1.2852, the lower border of the Bollinger Band indicator (black dotted line). In case of testing this level, the price may move up to the target level of 1.3100, the 14.6% retracement level (blue dotted line).