FX.co ★ Indicator analysis: Daily review of GBP/USD on February 20, 2023

Trend analysis (Fig. 1).

The pound-dollar pair may move upward from the level of 1.2037 (closing of Friday's daily candle) to 1.2090, the 50.0% pullback level (yellow dotted line). Upon reaching this level, a continued upward movement is possible with the target of 1.2132, the 61.8% 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 - down;
• Weekly chart - up.

General conclusion:

Today, the price may move upward from the level of 1.2037 (closing of Friday's daily candle) to 1.2090, the 50.0% pullback level (yellow dotted line). Upon reaching this level, a continued upward movement is possible with the target of 1.2132, the 61.8% pullback level (yellow dotted line).

Alternatively, the price may move upward from the level of 1.2037 (closing of Friday's daily candle) to 1.2071, the 61.8% pullback level (blue dotted line). When testing this level, the price may move down.