FX.co ★ Indicator analysis: Daily review of GBP/USD on July 20, 2023

Trend analysis (Fig. 1).

The GBP/USD currency pair may move downward from the level of 1.2935 (closing of yesterday's daily candle) with the target of 12864, the 50.0% pullback level (blue dotted line). When testing this level, the price may move up with the target of 1.3003, the historical resistance level (blue dotted line).

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 1.2935 (closing of yesterday's daily candle) with the target of 12864, the 50.0% pullback level (blue dotted line). When testing this level, the price may move up with the target of 1.3003, the historical resistance level (blue dotted line).

Alternatively, the price may move downward from the level of 1.2935 (closing of yesterday's daily candle) with the target of 12800, the 61.8% pullback level (blue dotted line). When testing this level, the price may move up with the target of 1.3003, the historical resistance level (blue dotted line).