FX.co ★ Indicator analysis: Daily review of GBP/USD on August 23, 2023

Trend analysis (Fig. 1).

The GBP/USD currency pair may move upward from the level of 1.2729 (closing of yesterday's daily candle) to 1.2751, the 21-day EMA (black thin line). In the case of testing this level, a downward movement is possible to 1.2692, the 14.6% pullback level (red dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move upward from the level of 1.2729 (closing of yesterday's daily candle) to 1.2751, the 21-day EMA (black thin line). In the case of testing this level, a downward movement is possible to 1.2692, the 14.6% pullback level (red dotted line).

Alternatively, the price may move upward from the level of 1.2729 (closing of yesterday's daily candle) to 1.2799, the 61.8% pullback level (blue dotted line). In the case of testing this level, a downward movement is possible to 1.2751, the 21-day EMA (black thin line).