FX.co ★ Indicator analysis: Daily review of GBP/USD on September 12, 2022

Trend analysis (Fig. 1).

The pound-dollar pair may move upward from the level of 1.1585 (close of Friday's daily candle) to the target of 1.1588, the 23.6% retracement level (yellow dotted line). After testing this level, continued upward movement is possible with the target of 1.1743, the 38.2% retracement level (blue dotted line). Upon reaching this level, the price may move up.

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today the price may move upward from the level of 1.1585 (close of Friday's daily candle) to the target of 1.1588, the 23.6% retracement level (yellow dotted line). After testing this level, continued upward movement is possible with the target of 1.1743, the 38.2% retracement level (blue dotted line). Upon reaching this level, the price may move up.

Alternative scenario: from the level of 1.1585 (close of Friday's daily candle), the price may move upward with the target of 1.1643, the 21-period EMA (thin black line). After testing this level, continued upward move is possible with the target of 1.1743, the 38.2% retracement level (blue dotted line).