FX.co ★ Indicator analysis: Daily review of GBP/USD on August 24, 2022

Trend analysis (Fig. 1).

The pound-dollar pair may move downward from the level of 1.1830 (close of yesterday's daily candle) to reach the support level of 1.1759 (thick white line). In the case of testing this level, the price may move upward with the target of 1.1842, the 14.6% retracement level (red dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today the price may move downward from the level of 1.1830 (close of yesterday's daily candle) to reach the support level of 1.1759 (thick white line). In the case of testing this level, the price may move upward with the target of 1.1842, the 14.6% retracement level (red dotted line).

Alternative scenario: from the level of 1.830 (close of yesterday's daily candle), the price may move upward to 1.1894, the 23.6% retracement level (red dotted line). In case of testing this level, continued upward movement is possible.