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

Trend analysis (Fig. 1).

The pound-dollar pair may move downward from the level of 1.1535 (close of yesterday's daily candle) to the target at 1.1482, the 76.4% retracement level (yellow dotted line). When testing this level, an upward movement is possible with the target of 1.1613, the 23.6% retracement level (blue dotted line). Upon reaching this level, the price may continue to move up.

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move downward from the level of 1.1535 (close of yesterday's daily candle) to the target at 1.1482, the 76.4% retracement level (yellow dotted line). When testing this level, an upward movement is possible with the target of 1.1613, the 23.6% retracement level (blue dotted line). Upon reaching this level, the price may continue to move up.

Alternative scenario: from the level of 1.1535 (close of yesterday's daily candle), the price may move downward with the target of 1.1453, the 85.4% retracement level (yellow dotted line). When testing this level, an upward movement is possible.