FX.co ★ Indicator analysis: Daily review of GBP/USD on October 12, 2023

Trend analysis (Fig. 1).

The GBP/USD currency pair may move downward from the level of 1.2309 (closing of yesterday's daily candle) to the 1.2221 resistance level (red thick line). In the case of testing this level, an upward movement is possible with a target of 1.2262, the 21-period EMA (black thin line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion: Today, the price may move downward from the level of 1.2309 (closing of yesterday's daily candle) to the 1.2221 resistance level (red thick line). In the case of testing this level, an upward movement is possible with a target of 1.2262, the 21-period EMA (black thin line).

Alternatively, the price may move upward from the level of 1.2309 (closing of yesterday's daily candle) to 1.2363, the historical resistance level (blue dotted line). In the case of testing this level, a downward movement is possible to the 1.2221 resistance level (red thick line).