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

Trend analysis (Fig. 1).

The GBP/USD currency pair may move upward from the level of 1.2159 (closing of Friday's daily candle) to 1.2215, the 23.6% pullback level (red dotted line). From this level, the price may continue to move up.

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 1.2159 (closing of Friday's daily candle) to 1.2215, the 23.6% pullback level (red dotted line). From this level, the price may continue to move up.

Alternatively, the price may move upward from the level of 1.2159 (closing of Friday's daily candle) to the 1.2231 resistance level (red thick line). Upon reaching this level, a downward movement is possible with a target at 1.2182, the 13-period EMA (yellow thin line).