FX.co ★ Indicator analysis: Daily review of GBP/USD on September 18, 2023

Trend analysis (Fig. 1).

The GBP/USD currency pair may move upward from the level of 1.2379 (closing of Friday's daily candle) with a target of 1.2431, the 14.6% pullback level (red dotted line). Upon reaching this level, a continued upward movement is possible with a target of 1.2464, the 23.6% 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;
• Bollinger bands – down;
• Weekly chart – up.

General conclusion: Today, the price may move upward from the level of 1.2379 (closing of Friday's daily candle) with a target of 1.2431, the 14.6% pullback level (red dotted line). Upon reaching this level, a continued upward movement is possible with a target of 1.2464, the 23.6% pullback level (red dotted line).

Alternatively, the price may move upward from the level of 1.2379 (closing of Friday's daily candle) with a target of 1.2431, the 14.6% pullback level (red dotted line). Upon reaching this level, a downward movement is possible with a target of 12336, the historical support level (blue dotted line).