FX.co ★ Indicator analysis of GBP/USD for March 18, 2022

Trend analysis (Fig. 1).

The market may move up on Friday from the level of 1.3144 (close of yesterday's daily candle) to the target level of 1.3202, the historical resistance level (blue dotted line). After testing this level, the price may continue to move up to the target level of 1.3244, the 38.2% 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 1.3144 (close of yesterday's daily candle) to the target level of 1.3202, the historical resistance level (blue dotted line). After testing this level, the price may continue to move up to the target level of 1.3244, the 38.2% retracement level (blue dotted line). From this level, the price may move down.

Unlikely scenario: from the level of 1.3144 (the close of yesterday's daily candle), the price may move up to the target level of 1.3202, the historical resistance level (blue dotted line). After testing this level, the price may move downwards to the target level of 1.3087, the support line (thick red line). After testing this level, the price may move up.