FX.co ★ Indicator analysis: Daily review of GBP/USD on September 14, 2022

Trend analysis (Fig. 1).

The pound-dollar pair may move upward from the level of 1.1489 (close of yesterday's daily candle) to 1.1614, the 23.6% retracement level (blue dotted line). When testing this level, continued upward movement is possible to 1.1743, the 38.2% retracement level (blue dotted line). In the case of testing this level, the price may move downwards with the target of 1.1687, the 14.6% retracement level (yellow dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today the price may move upward from the level of 1.1489 (close of yesterday's daily candle) to 1.1614, the 23.6% retracement level (blue dotted line). When testing this level, continued upward movement is possible to 1.1743, the 38.2% retracement level (blue dotted line). In the case of testing this level, the price may move downwards with the target of 1.1687, the 14.6% retracement level (yellow dotted line).

Alternative scenario: from the level of 1.1489 (close of yesterday's daily candle), the price may move upward to 1.1534, the 14.6% retracement level (blue dotted line). In the case of testing this level, a downward movement is possible with the target of 1.1404, the lower fractal (yellow dotted line). When testing this level, the price may move up.