FX.co ★ Indicator analysis: Daily review of GBP/USD on July 27, 2022

Trend analysis (Fig. 1).

The pound-dollar pair may move upward from the level of 1.2021 (close of yesterday's daily candle) to the upper fractal 1.2089 (daily candle from 07/26/2022). In the case of testing this level, the price may move down with the target of 1.1963, the 38.2% retracement level (blue dotted line). From this level, the price may move up.

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move upward from the level of 1.2021 (close of yesterday's daily candle) to the upper fractal 1.2089 (daily candle from 07/26/2022). In the case of testing this level, the price may move down with the target of 1.1963, the 38.2% retracement level (blue dotted line). From this level, the price may move up.

Alternative scenario: from the level of 1.2021 (close of yesterday's daily candle), the price may move upward to the upper fractal 1.2089 (daily candle of 07/26/2022). In the case of testing this level, a downward movement is possible with the target of 1.1926, the 50.0% retracement level (blue dotted line). From this level, the price may move up.