FX.co ★ Indicator analysis: Daily review of GBP/USD on February 16, 2023

Trend analysis (Fig. 1).

The pound-dollar pair may move upward from the level of 1.2028 (closing of yesterday's daily candle) to 1.2072, the 23.6% pullback level (yellow dotted line). When testing this level, continued upward movement is possible with the target of 1.2143, the 38.2% pullback level (yellow 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 upward from the level of 1.2028 (closing of yesterday's daily candle) to 1.2072, the 23.6% pullback level (yellow dotted line). When testing this level, continued upward movement is possible with the target of 1.2143, the 38.2% pullback level (yellow dotted line).

Alternatively, the price may move upward from the level of 1.2028 (closing of yesterday's daily candle) to 1.2072, the 23.6% pullback level (yellow dotted line). When testing this level, a downward movement is possible with the target of 1.1989, the lower fractal (daily candle from 15/02/2023).