FX.co ★ Indicator analysis: Daily review of GBP/USD on August 15, 2022

Trend analysis (Fig. 1).

The pound-dollar pair may move downward from the level of 1.2130 (close of Friday's daily candle) to the target of 1.2088, the 38.2% retracement level (blue dotted line). Upon testing this level, the price may move upward with the target of 1.2112, the 61.8% retracement level (red dotted line). From this level, continued upward movement is possible with the target of 1.2196, the 76.4% retracement level (red dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today the price may move downward from 1.2130 (close of Friday's daily candle) to the target of 1.2088, the 38.2% retracement level (blue dotted line). Upon testing this level, the price may move upward with the target of 1.2112, the 61.8% retracement level (red dotted line). From this level, continued upward movement is possible with the target of 1.2196, the 76.4% retracement level (red dotted line).

Alternative scenario: from the level of 1.2130 (close of Friday's daily candle), the price may move downward with the target of 1.2025, the 50.0% retracement level (blue dotted line). Upon testing this level, an upward movement is possible with the target of 1.2112, the 61.8% retracement level (red dotted line). From here, upward work is possible.