FX.co ★ Indicator analysis: Daily review of GBP/USD on November 10, 2023

Trend analysis (Fig. 1).

The GBP/USD currency pair may move upward from the level of 1.2218 (closing of yesterday's daily candle) to 1.2248, the 50.0% pullback level (yellow dotted line). In the case of testing this level, a continued upward movement is possible to 1.2306, the 38.2% pullback level (red dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion: Today, the price may move upward from the level of 1.2218 (closing of yesterday's daily candle) to 1.2248, the 50.0% pullback level (yellow dotted line). In the case of testing this level, a continued upward movement is possible to 1.2306, the 38.2% pullback level (red dotted line).

Alternatively, the price may move downward from the level of 1.2218 (closing of yesterday's daily candlestick) to 1.2206, the 61.8% pullback level (yellow dotted line). In the case of testing this level, an upward movement is possible to 1.2248, the 50.0% pullback level (yellow dotted line).