FX.co ★ Indicator analysis: Daily review of GBP/USD on June 6, 2023

Trend analysis (Fig. 1).

The market may move upward from the level of 1.2433 (closing of yesterday's daily candle) to test 1.2460, the historical resistance level (blue dotted line). Upon testing this level, the price may continue to move upward to 1.2492, the 50.0% pullback level (red dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move upward from the level of 1.2433 (closing of yesterday's daily candle) to test 1.2460, the historical resistance level (blue dotted line). Upon testing this level, the price may continue to move upward to 1.2492, the 50.0% pullback level (red dotted line).

Alternatively, the price may move upward from the level of 1.2433 (closing of yesterday's daily candle) to test 1.2460, the historical resistance level (blue dotted line). Upon testing this level, the price may move downward to 1.2425, the 50.0% pullback level (blue dotted line).