FX.co ★ Indicator analysis: Daily review of GBP/USD on January 19, 2023

Trend analysis (Fig. 1).

The pound-dollar pair may move downward from the level of 1.2342 (closing of yesterday's daily candle) to 1.2294, the 23.6% retracement level (blue dotted line). When testing this level, an upward movement is possible to the upper fractal at 1.2444 (red dotted line).

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 1.2342 (closing of yesterday's daily candle) to 1.2294, the 23.6% retracement level (blue dotted line). When testing this level, an upward movement is possible to the upper fractal at 1.2444 (red dotted line).

Alternatively, the price may move upward from the level of 1.2342 (closing of yesterday's daily candle) to the upper fractal at 1.2444 (red dotted line). When testing this level, a downward movement is possible to 1.2347, the 14.6% retracement level (yellow dotted line).