FX.co ★ Indicator analysis of GBP/USD on April 20, 2022

Trend analysis (Fig. 1).

The pound-dollar pair may move up from the level of 1.2994 (close of yesterday's daily candle) to 1.3047, the 23.6% retracement level (red dotted line). In case of testing this level, the price may continue to move upward with the target at 1.3095, the 38.2% retracement level (red dotted line). From this level, downward movement is possible.

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move up from the level of 1.2994 (close of yesterday's daily candle) to 1.3047, the 23.6% retracement level (red dotted line). In case of testing this level, the price may continue to move upward with the target at 1.3095, the 38.2% retracement level (red dotted line). From this level, downward movement is possible.

Unlikely scenario: from the level of 1.2994 (close of yesterday's daily candle), the price may move upward to 1.3047, the 23.6% retracement level (red dotted line). In case of testing this level, the price may move down to the support level at 1.2990 (thick red line).