FX.co ★ Indicator analysis: Daily review of GBP/USD on February 27, 2023

Trend analysis (Fig. 1).

The pound-dollar pair may move upward from the level of 1.1936 (closing of Friday's daily candle) to 1.1978, the 23.6% pullback level (yellow dotted line). Upon reaching this level, continued upward movement is possible with the target of 1.2010, 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 - down;
• Weekly chart - up.

General conclusion:

Today, the price may move upward from the level of 1.1936 (closing of Friday's daily candle) to 1.1978, the 23.6% pullback level (yellow dotted line). Upon reaching this level, continued upward movement is possible with the target of 1.2010, the 38.2% pullback level (yellow dotted line).

Alternatively, the price may move downward from the level of 1.1936 (closing of Friday's daily candle) to 1.1904, the historical support level (blue dotted line). When testing this level, the price may move up.