FX.co ★ Indicator analysis: Daily review of GBP/USD on August 22, 2023

Trend analysis (Fig. 1).

The GBP/USD currency pair may move upward from the level of 1.2751 (closing of yesterday's daily candle) to test 1.2816, the 38.2% pullback level (red dotted line). Upon testing this level, the price may decline to 1.2800, the 61.8% pullback level (blue dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

• Indicator analysis - 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 1.2751 (closing of yesterday's daily candle) to test 1.2816, the 38.2% pullback level (red dotted line). Upon testing this level, the price may decline to 1.2800, the 61.8% pullback level (blue dotted line).

Alternatively, the price may move upward from the level of 1.2751 (closing of yesterday's daily candle) to test 1.2878, the 50.0% pullback level (red dotted line). Upon testing this level, a downward movement is possible to 1.2816, the 38.2% pullback level (red dotted line).