FX.co ★ Indicator analysis: Daily review of GBP/USD on November 2, 2022

Trend analysis (Fig. 1).

The pound-dollar pair may move upward from the level of 1.1482 (close of yesterday's daily candle) to the 1.1598 resistance level (thick red line). In the case of testing this level, continued upward movement is possible to the upper fractal 1.1743 (blue dotted line). When testing this level, the price may move down.

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 – up.

General conclusion:

Today, the price may move upward from the level of 1.1482 (close of yesterday's daily candle) to the 1.1598 resistance level (thick red line). In the case of testing this level, continued upward movement is possible to the upper fractal 1.1743 (blue dotted line). When testing this level, the price may move down.

Alternatively, the price may move upward from the level of 1.1482 (close of yesterday's daily candle) to the 1.1598 resistance level (thick red line). In the case of testing this level, a downward movement is possible to the 1.1466 support level (thick blue line). When testing this level, the price may move up.