FX.co ★ GBP/USD: indicator analysis on July 14, 2023

Trend analysis (Fig. 1)

On Friday, the price may go down from 1.3131 (the close price of yesterday's daily candlestick) to the 14.5% retracement level of 1.3059 (blue dotted line). Once the price reaches this level, growth may extend.

Fig. 1 (daily chart)

Complex analysis:

- indicator analysis - down

- Fibonacci levels - down

- volumes - down

- candlestick analysis - down

- trend analysis - up

- Bollinger bands - up

- weekly chart - up

Conclusion:

Today, the price may go down from 1.3131 (the close price of yesterday's daily candlestick) to the 14.5% retracement level of 1.3059 (blue dotted line). Once the price reaches this level, growth may extend.

Alternative scenario: the price may go down from 1.3131 (the close price of yesterday's daily candlestick) to the 23.6% retracement level of 1.3009 (blue dotted line). Once the price reaches this level, growth may extend.