FX.co ★ Indicator analysis: Daily review of GBP/USD on March 6, 2023

Trend analysis (Fig. 1).

The pound-dollar pair may move upward from the level of 1.2040 (closing of Friday's daily candle) to 1.2092, the 76.4% pullback level (yellow dotted line). From this level, a downward movement is possible with the target of 1.2060, the 21-day EMA (thin yellow 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 1.2040 (closing of Friday's daily candle) to 1.2092, the 76.4% pullback level (yellow dotted line). From this level, a downward movement is possible with the target of 1.2060, the 21-day EMA (thin yellow line).

Alternatively, the price may move upward from the level of 1.2040 (closing of Friday's daily candle) to 1.2092, the 76.4% pullback level (yellow dotted line). Upon reaching this level, continued upward movement is possible with the target of 1.2113, the 85.4% pullback level (yellow dotted line).