FX.co ★ Indicator analysis: Daily review of GBP/USD on April 5, 2023

Trend analysis (Fig. 1).

The pound-dollar pair may move downward from 1.2496 (closing of yesterday's daily candle) to 1.2460, the historical support level (blue dotted line). In the case of testing this level, the price may move upward with the target at 1.2524, the upper fractal (yellow dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

• Indicator analysis - down;
• Fibonacci levels - down;
• Volumes - down;
• Candlestick analysis - up;
• Trend analysis - up;
• Weekly chart - up;
• Bollinger Bands - up.

General conclusion:

Today, the price may move downward from 1.2496 (closing of yesterday's daily candle) to 1.2460, the historical support level (blue dotted line). In the case of testing this level, the price may move upward with the target at 1.2524, the upper fractal (yellow dotted line).

Alternatively, the price may move downward from 1.2496 (closing of yesterday's daily candle) to 1.2420, the 14.6% pullback level (yellow dotted line). In the case of testing this level, the price may move upward with the target at 1.2524, the upper fractal (yellow dotted line).