15.07.202211:12 Forex Analysis & Reviews: Indicator analysis: GBP/USD daily review on July 15, 2022

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Trend analysis (Fig. 1)

GBP/USD will continue moving down this Friday, from 1.1819 (closing of yesterday's daily candle) to 1.1759, which is the lower fractal (red dotted line). Then, it will bounce to the 14.6% retracement level at 1.1842 (red dotted line) and go up.

Fig. 1 (daily chart)

comprehensive analysis:

Indicator analysis - downtrend

Fibonacci levels - downtrend

volumes - downtrend

Candlestick analysis - uptrend

Trend analysis - downtrend

Bollinger bands - downtrend

Weekly chart - downtrend

Conclusion: GBP/USD will decline from 1.1819 (closing of yesterday's daily candle ) to the lower fractal at 1.1759 (red dotted line), then bounce to the 14.6% retracement level at 1.1842 (red dotted line). Price will increase after that.

Alternatively, the quote may rise from 1.1819 (closing of yesterday's daily candle) to the 14.6% retracement level at 1.1842 (red dotted line), then go down to the lower fractal at 1.1759 (red dotted line). Following this will be a continued price increase.

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