FX.co ★ Indicator analysis: Daily review of GBP/USD on July 7, 2023

Trend analysis (Fig. 1).

The GBP/USD currency pair may move upward from the level of 1.2736 (closing of yesterday's daily candle) with the target of 1.2809, the 85.4% pullback level (red dotted line). Upon reaching this level, the price may move down.

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 1.2736 (closing of yesterday's daily candle) with the target of 1.2809, the 85.4% pullback level (red dotted line). Upon reaching this level, the price may move down.

Alternatively, the price may move upward from the level of 1.2736 (closing of yesterday's daily candle) with the target of 1.2786, the 76.4% pullback level (red dotted line). Upon reaching this level, the price may move down.