INDICATOR ANALYSIS: DAILY REVIEW OF GBP/USD ON MARCH 23, 2023

Trend analysis (Fig. 1).
The pound-dollar pair may move upward from the level of 1.2265 (closing of yesterday's daily candle) to the target at 1.2352, the 85.4% pullback level (blue dotted line). When testing this level, the price may continue to move upward with the target at 1.2446, the upper fractal (blue dotted 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 upward from the level of 1.2265 (closing of yesterday's daily candle) to the target at 1.2352, the 85.4% pullback level (blue dotted line). When testing this level, the price may continue to move upward with the target at 1.2446, the upper fractal (blue dotted line).

Alternatively, the price may move upward from the level of 1.2265 (closing of yesterday's daily candle) to the target at 1.2352, the 85.4% pullback level (blue dotted line). From this level, a downward movement is possible with the target at 1.2256, the 14.6% pullback level (yellow dotted line).

Analysis are provided by InstaForex

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