FX.co ★ GBP/USD indicator analysis and daily review on March 28, 2022

Trend analysis (fig. 1).

On Monday, the pair is expected to move from 1.3181 (Friday's candlestick closing price) towards 1.3110, which corresponds with the Fibonacci retracement level of 61.8% (yellow dotted line). Upon testing this level, the price may head towards the target of 1.3150, which comes in line with the 23.6% Fibonacci retracement level (blue dotted line).

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis – downwards; - Fibonacci levels – downwards; - Volume analysis – downwards; - Candlestick analysis – downwards; - Trend analysis – downwards; - Bollinger Bands – downwards; - Weekly chart – downwards.

Conclusion:

Today, the pair is expected to decline from 1.3181 (Friday's candlestick closing price) towards 1.3110, which corresponds with the Fibonacci retracement level of 61.8% (yellow dotted line). Upon testing this level, the price may head towards the target of 1.3150, which comes in line with the 23.6% Fibonacci retracement level (blue dotted line).

Alternative scenario: the price may continue to fall from 1.3181 (Friday's candlestick closing price) towards the level of 1.3110, which is the 61.8% Fibonacci retracement level (yellow dotted line). Then, the quote may keep moving lower to 1.3069, which corresponds with the 76.4% Fibonacci retracement (yellow dotted line). The price is set to continue rising after reaching this level.