FX.co ★ Indicator analysis: Daily review of GBP/USD on June 7, 2022

Trend analysis (Fig. 1).

The pound-dollar pair may move downward from 1.2527 (close of yesterday's daily candle) to 1.2410, the 50% retracement level (yellow dotted line). When testing this level, the price may move up to the historical resistance level of 1.2582 (blue dotted line). From this level, continued upward movement is possible.

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move downward from 1.2527 (close of yesterday's daily candle) to 1.2410, the 50% retracement level (yellow dotted line). When testing this level, the price may move up to the historical resistance level of 1.2582 (blue dotted line). From this level, continued upward movement is possible.

Alternative scenario: from the level of 1.2527 (close of yesterday's daily candle), the price may move downward with the target of 1.2410, the 50% retracement level (yellow dotted line). When testing this level, the price may continue to move upward to the historical resistance level of 1.2487 (blue dotted line). From this level, downward movement is possible.