FX.co ★ Indicator analysis of GBP/USD for March 21, 2022

Trend analysis (Fig. 1).

The market may move down from the level of 1.3176 (close of Friday's daily candle) to the target level of 1.3096, the support line (thick red line). In case of testing this level, the price may move upward to the target level of 1.3244, the 38.2% retracement (blue dotted line).

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:

The price may move down from the level of 1.3176 (close of Friday's daily candle) to the target level of 1.3096, the support line (thick red line). In case of testing this level, the price may move upward to the target level of 1.3244, the 38.2% retracement (blue dotted line).

Alternative scenario: from the level of 1.3176 (close of Friday's daily candle), the price may move upward to the target level of 1.3202, the historical resistance level (blue dotted line). From this level, the price may continue to move up to the target level of 1.3244, the 38.2% retracement level (blue dotted line).