03.02.202310:15 Forex Analysis & Reviews: Indicator analysis: Daily review of GBP/USD on February 3, 2023

Trend analysis (Fig. 1).

The pound-dollar pair may move downward from the level of 1.2221 (closing of yesterday's daily candle) to 1.2143, the 50% pullback level (blue dotted line). Upon reaching this level, the price may move up.

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move downward from the level of 1.2221 (closing of yesterday's daily candle) to 1.2143, the 50% pullback level (blue dotted line). Upon reaching this level, the price may move up.

Alternatively, the price may move upward from the level of 1.2221 (closing of yesterday's daily candle) to 1.2259, the 23.6% pullback level (yellow dotted line). Upon reaching this level, the price may continue to move up.