FX.co ★ Indicator analysis: Daily review of GBP/USD on January 11, 2023

Trend analysis (Fig. 1).

The price may move upward from the level of 1.2147 (closing of yesterday's daily candle) to 1.2213, the historical resistance level (blue dotted line). In the case of testing this level, continued upward movement is possible to 1.2301, the 76.4% retracement level (red 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 - up.

General conclusion:

Today, the price may move upward from the level of 1.2147 (closing of yesterday's daily candle) to 1.2213, the historical resistance level (blue dotted line). In the case of testing this level, continued upward movement is possible to 1.2301, the 76.4% retracement level (red dotted line).

Alternatively, the price may move upward from the level of 1.2147 (closing of yesterday's daily candle) to 1.2213, the historical resistance level (blue dotted line). In the case of testing this level, a downward movement is possible to 1.2135, the 23.6% retracement level (yellow dotted line).