22.06.202210:05 Forex Analysis & Reviews: Indicator analysis: Daily review of GBP/USD on June 22, 2022

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Trend analysis (Fig. 1).

The pound-dollar pair may move down from the level of 1.2275 (close of yesterday's daily candle) to 1.2168, the 50% retracement level (yellow dotted line). In case of testing this level, the price may move upward with the target of 1.2385, the 61.8% retracement level (red dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today the price may move down from the level of 1.2275 (close of yesterday's daily candle) to 1.2168, the 50% retracement level (yellow dotted line). In case of testing this level, the price may move upward with the target of 1.2385, the 61.8% retracement level (red dotted line).

Alternative scenario: from the level of 1.2275 (close of yesterday's daily candle), the price may move downward to 1.2168, the 50.0% retracement level (yellow dotted line). In case of testing this level, continued downward movement is possible with the target of 1.2112, the 61.8% retracement level (yellow dotted line). Upon reaching this level, the price may move up.

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