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

Trend analysis (Fig. 1).

The pound-dollar pair may move upward from the level of 1.2017 (closing of yesterday's daily candle) to 1.2060, the 61.8% pullback level (yellow dotted line). In the case of testing this level, continued upward movement is possible with the target of 1.2092, the 76.4% 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;
• Weekly chart - up;
• Bollinger bands - down.

General conclusion:

Today, the price may move upward from the level of 1.2017 (closing of yesterday's daily candle) to 1.2060, the 61.8% pullback level (yellow dotted line). In the case of testing this level, continued upward movement is possible with the target of 1.2092, the 76.4% pullback level (yellow dotted line).

Alternatively, the price may move upward from the level of 1.2017 (closing of yesterday's daily candle) to 1.2060, the 61.8% pullback level (yellow dotted line). In the case of testing this level, the price may move down to the 1.1969 support level (thick blue line).