FX.co ★ Indicator analysis: Daily review of GBP/USD on April 18, 2023

Trend analysis (Fig. 1).

The market may move upward from the level of 1.2371 (closing of yesterday's daily candle) with the target of testing 1.2413, the 8-day EMA (thin blue line). Upon testing this level, a downward movement is possible to 1.2352, the lower fractal (blue dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

• Indicator analysis - down;
• Volumes - down;
• Candlestick analysis - down;
• Trend analysis - down;
• Bollinger bands - up;
• Weekly chart - down.

General conclusion:

Today, the price may move upward from the level of 1.2371 (closing of yesterday's daily candle) with the target of testing 1.2413, the 8-day EMA (thin blue line). Upon testing this level, a downward movement is possible to 1.2352, the lower fractal (blue dotted line).

Alternatively, the price may move upward from the level of 1.2371 (closing of yesterday's daily candle) to test 1.2460, the historical resistance level (blue dotted line). Upon testing this level, a downward movement is possible to 1.2369, the 23.6% pullback level (yellow dotted line).