FX.co ★ Indicator analysis: Daily review of GBP/USD on January 18, 2023

Trend analysis (Fig. 1).

The pound-dollar pair may move upward from the level of 1.2284 (closing of yesterday's daily candle) to 1.2356, the 85.4% retracement level (red dotted line). In the case of testing this level, a downward movement is possible.

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 1.2284 (closing of yesterday's daily candle) to 1.2356, the 85.4% retracement level (red dotted line). In the case of testing this level, a downward movement is possible.

Alternatively, the price may move upward from the level of 1.2284 (closing of yesterday's daily candle) to 1.2301, the 76.4% retracement level (red dotted line). In the case of testing this level, a downward movement is possible to 1.2253, the 14.6% retracement level (yellow dotted line).