Main Quotes Calendar Forum
flag

FX.co ★ Indicator analysis: Daily review of GBP/USD on June 23, 2022

parent
Forex Analysis:::2022-06-23T08:38:08

Indicator analysis: Daily review of GBP/USD on June 23, 2022

Trend analysis (Fig. 1).

The market may move downward from 1.2258 (close of yesterday's daily candle) to the target at 1.2168, the 50.0% retracement level (yellow dotted line). When testing this level, the price may move upward with the target at the upper fractal 1.2405 (yellow dotted line). Upon reaching this level, continued upward movement is possible.

Indicator analysis: Daily review of GBP/USD on June 23, 2022

Fig. 1 (daily chart).

Comprehensive analysis:

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

Today, the price may move downward from 1.2258 (close of yesterday's daily candle) to the target at 1.2168, the 50.0% retracement level (yellow dotted line). When testing this level, the price may move upward with the target at the upper fractal 1.2405 (yellow dotted line). Upon reaching this level, continued upward movement is possible.

Alternative scenario: from the level of 1.2258 (close of yesterday's daily candle), the price may move down with the target of 1.2170, the 38.2% retracement level (yellow dotted line). When testing this level, continued downward movement is possible with the target of 1 2112, the 61.8% retracement level (yellow dotted line). When testing this level, the price may move upward with the target at 1.2212, the 38.2% retracement level (red dotted line).
Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...