FX.co ★ Indicator analysis: Daily review of GBP/USD on October 11, 2022

Trend analysis (Fig. 1).

The pound-dollar pair may move downward from the level of 1.1051 (closing of yesterday's daily candle) to 1.0918, the 50.0% retracement level (yellow dotted line). When testing this level, an upward pullback is possible to 1.1204, the 61.8% retracement level (blue dotted line). From this level, the price may continue to move up.

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move downward from the level of 1.1051 (closing of yesterday's daily candle) to 1.0918, the 50.0% retracement level (yellow dotted line). When testing this level, an upward pullback is possible to 1.1204, the 61.8% retracement level (blue dotted line). From this level, the price may continue to move up.

Alternatively, the price may move upward from the level of 1.1051 (closing of yesterday's daily candle) to 1.1204, the 61.8% retracement level (blue dotted line). When testing this level, the price may continue to move up.