FX.co ★ Indicator analysis: Daily review of GBP/USD on July 17, 2023

Trend analysis (Fig. 1).

The GBP/USD currency pair may move downward from the level of 1.3109 (closing of Friday's daily candle) with the target of 1.3059, the 14.6% pullback level (blue dotted line). From this level, the price may move up.

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move downward from the level of 1.3109 (closing of Friday's daily candle) with the target of 1.3059, the 14.6% pullback level (blue dotted line). From this level, the price may move up.

Alternatively, the price may move downward from the level of 1.3109 (closing of Friday's daily candle) with the target of 1.3009, the 23.6% pullback level (blue dotted line). From this level, the price may move up.