FX.co ★ Indicator analysis: Daily review of GBP/USD on February 1, 2023

Trend analysis (Fig. 1).

The pound-dollar pair may move upward from the level of 1.2312 (closing of yesterday's daily candle) to 1.2364, the 50% pullback level (yellow dotted line). In the case of testing this level, the price may continue to move up.

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move upward from the level of 1.2312 (closing of yesterday's daily candle) to 1.2364, the 50% pullback level (yellow dotted line). In the case of testing this level, the price may continue to move up.

Alternatively, the price may move downward from the level of 1.2312 (closing of yesterday's daily candle) to 1.2278, the 21-day EMA (thin black line). In the case of testing this level, the price may move up.