FX.co ★ Indicator analysis: Daily review of GBP/USD on July 11, 2023

Trend analysis (Fig. 1).

The GBP/USD currency pair may move upward from the level of 1.2857 (closing of yesterday's daily candle) to test 1.2952, the upper border of the Bollinger line indicator (black dotted line). Upon testing this level, a downward movement is possible to 1.2867, the upper fractal (daily candle from 07/10/2023).

Fig. 1 (daily chart).

Comprehensive analysis:

• Indicator analysis - 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 1.2857 (closing of yesterday's daily candle) to test 1.2952, the upper border of the Bollinger line indicator (black dotted line). Upon testing this level, a downward movement is possible to 1.2867, the upper fractal (daily candle from 07/10/2023).

Alternatively, the price may move upward from the level of 1.2857 (closing of yesterday's daily candle) to test 1.2952, the upper border of the Bollinger line indicator (black dotted line). Upon testing this level, the price may continue to move up to 1.3006, the 161.8% pullback level (red dotted line).