FX.co ★ Indicator analysis: Daily review of GBP/USD on August 10, 2023

Trend analysis (Fig. 1).

The GBP/USD currency pair may move upward from the level of 1.2715 (closing of yesterday's daily candle) with the target at 1.2818, the 38.2% pullback level (red dotted line). In the case of testing this level, a continued upward movement is possible to the 1.2833 resistance level (thick red line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move upward from the level of 1.2715 (closing of yesterday's daily candle) with the target at 1.2818, the 38.2% pullback level (red dotted line). In the case of testing this level, a continued upward movement is possible to the 1.2833 resistance level (thick red line).

Alternatively, the price may move upward from the level of 1.2715 (closing of yesterday's daily candle) with the target at 1.2818, the 38.2% pullback level (red dotted line). In the case of testing this level, a downward movement is possible with the target of 1.2800, the 61.8% pullback level (blue dotted line).