FX.co ★ Indicator analysis of GBP/USD for March 31, 2022

Trend analysis (Fig. 1).

The market may move up from the level of 1.3130 (close of yesterday's daily candle) to the target of 1.3173, the 50.0% retracement level (red dotted line). In case of testing this level, the price may continue to move upward with the target of 1.3202, the 61.8% retracement level (red dotted line). In case of testing this level, the upward movement may continue.

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

The price may move up from the level of 1.3130 (close of yesterday's daily candle) to the target of 1.3173, the 50.0% retracement level (red dotted line). In case of testing this level, the price may continue to move upward with the target of 1.3202, the 61.8% retracement level (red dotted line). In case of testing this level, the upward movement may continue.

Alternative scenario: from the level of 1.3130 (close of yesterday's daily candle), the price may move up with the target of 1.3187, the 21-period EMA (black thin line). In case of testing this level, the price may pull back down with the target of 1.3110, the support line (thick red line). In case of testing this level, the price may move up.