FX.co ★ Indicator analysis: Daily review of GBP/USD on April 20, 2023

Trend analysis (Fig. 1).

The market may move upward from the level of 1.2436 (closing of yesterday's daily candle) with the target of 1.2473, the upper fractal (blue dotted line). When testing this level, continued upward movement is possible with the target at 1.2545, the upper fractal (yellow dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move upward from the level of 1.2436 (closing of yesterday's daily candle) with the target of 1.2473, the upper fractal (blue dotted line). When testing this level, continued upward movement is possible with the target at 1.2545, the upper fractal (yellow dotted line).

Alternatively, the price may move upward from the level of 1.2436 (closing of yesterday's daily candle) with the target of 1.2473, the upper fractal (blue dotted line). When testing this level, the price may move downward with the target at 1.2410, the support level (thick blue line).