FX.co ★ Indicator analysis: Daily review of GBP/USD on July 25, 2022

Trend analysis (Fig. 1).

The pound-dollar pair may move downward from 1.2003 (close of Friday's daily candle) to the historical support level 1.1928 (blue dotted line). After testing this level, the price may move upward with the target of 1.2044, the 50% retracement level (red dotted line). Upon reaching this level, continued upward movement is possible.

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move downward from 1.2003 (close of Friday's daily candle) to the historical support level 1.1928 (blue dotted line). After testing this level, the price may move upward with the target of 1.2044, the 50% retracement level (red dotted line). Upon reaching this level, continued upward movement is possible.

Alternative scenario: from the level of 1.2003 (close of Friday's daily candle), the price may move down to the historical support level 1.1928 (blue dotted line). After testing this level, continued downward movement is possible with the target of 1.1874, the 50.% retracement level (blue dotted line). Upon reaching this level, the price may move up.