FX.co ★ Indicator analysis: Daily review of GBP/USD on November 17, 2022

Trend analysis (Fig. 1).

The pound-dollar pair may move downward from the level of 1.1913 (close of yesterday's daily candle) to 1.1818, the 23.6% retracement level (yellow dotted line). When testing this level, an upward movement is possible with the target at 1.2026, the upper fractal (yellow dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

On Thursday, the price may move downward from the level of 1.1913 (close of yesterday's daily candle) to 1.1818, the 23.6% retracement level (yellow dotted line). When testing this level, an upward movement is possible with the target at 1.2026, the upper fractal (yellow dotted line).

Alternatively, the price may move downward from the level of 1.1913 (close of yesterday's daily candle) to 1.1689, the 38.2% retracement level (yellow dotted line). When testing this level, an upward movement is possible with the target at 1.2026, the upper fractal (yellow dotted line).