FX.co ★ Indicator analysis: Daily review of GBP/USD on March 8, 2023

Trend analysis (Fig. 1).

The pound-dollar pair may move upward from the level of 1.1824 (closing of yesterday's daily candle) to 1.1857, the 14.6% pullback level (yellow dotted line). In the case of testing this level, continued upward movement is possible with the target of 1.1887, the 23.6% 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 - up.

General conclusion:

Today, the price may move upward from the level of 1.1824 (closing of yesterday's daily candle) to 1.1857, the 14.6% pullback level (yellow dotted line). In the case of testing this level, continued upward movement is possible with the target of 1.1887, the 23.6% pullback level (yellow dotted line).

Alternatively, the price may move downward from the level of 1.1824 (closing of yesterday's daily candle) to 1.1785, the lower Bollinger band indicator (black dotted line). In the case of testing this level, an upward movement is possible with the target of 1.1857, the 14.6% pullback level (yellow dotted line).