FX.co ★ Indicator analysis. GBP/USD daily review for May 3, 2022

Trend analysis (Figure 1).On Tuesday, the market from 1.2487 (yesterday's daily candlestick close) will try to start moving upwards with the target 1.2539, a pullback level of 14.6% (red dotted line). If this level is tested, the continuation of upward movement with the target 1.2619, a pullback level of 23.6% (red dotted line) is possible.

Figure 1 (daily chart).Complex analysis:- indicator analysis - up;- Fibonacci levels - up;- volumes - up;- candlestick analysis - up;- trend analysis - up;- Bollinger bands - up;- weekly chart - up.Conclusion:Today the price from 1.2487 (yesterday's daily candlestick close) will try to start moving upwards with the target 1.2539, a pullback level of 14.6% (red dotted line). If this level is tested, there will be a continuation of upward movement with the target 1.2619, a pullback level of 23.6% (red dotted line).Another scenario: the price from 1.2487 (yesterday's daily candlestick close) will try to start moving upwards with the target 1.2539, a pullback level of 14.6% (red dotted line). On testing this level, there will be continuation of downside work with the target 1.2410, the lower fractal (red dotted line). On testing this level, upward movement with the target 1.2539, a pullback level of 14.6% (red dotted line) is possible.