FX.co ★ Indicator analysis: Daily review of GBP/USD on March 9, 2023

Trend analysis (Fig. 1).

The pound-dollar pair may move upward from the level of 1.1840 (closing of yesterday's daily candle) to the target at 1.1882, the 23.6% pullback level (yellow dotted line). When testing this level, the price may continue to move upward with the target at 1.1932, the 38.2% pullback level (yellow dotted line). From this level, a downward movement is possible.

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 1.1840 (closing of yesterday's daily candle) to the target at 1.1882, the 23.6% pullback level (yellow dotted line). When testing this level, the price may continue to move upward with the target at 1.1932, the 38.2% pullback level (yellow dotted line). From this level, a downward movement is possible.

Alternatively, the price may move upward from the level of 1.1840 (closing of yesterday's daily candle) to the target at 1.1882, the 23.6% pullback level (yellow dotted line). From this level, a downward movement is possible with the target at 1.1802, the lower fractal (yellow dotted line).