FX.co ★ Indicator analysis: Daily review of GBP/USD on May 19, 2022

Trend analysis (Fig. 1).

The pound-dollar pair may move up from the level of 1.2336 (close of yesterday's daily candle) with the target of 1.2397, the 13-period EMA (thin yellow line). When testing this level, the price may move up to the upper fractal 1.2499 (yellow dotted line). Upon reaching 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 – up;
• Weekly chart – up.

General conclusion:

Today the price may move up from the level of 1.2336 (close of yesterday's daily candle) with the target of 1.2397, the 13-period EMA (thin yellow line). When testing this level, the price may move up to the upper fractal 1.2499 (yellow dotted line). Upon reaching this level, the upward movement may continue.

Alternative scenario: from the level of 1.2336 (close of yesterday's daily candle), the price may move up with the target of 1.2397, the 13-period EMA (thin yellow line). When testing this level, the price may move downward with the target of 1.2284, the 61.8% retracement level (yellow dotted line). Upon reaching this level, the upward movement may continue.