FX.co ★ Indicator analysis: Daily review of GBP/USD on June 29, 2022

Trend analysis (Fig. 1).

The pound-dollar pair may move downward from 1.2181 (close of yesterday's daily candle) to 1.2168, the 50% retracement level (yellow dotted line). In case of testing this level, continued downward movement is possible with the target of 1.2113, the 61.8% retracement level (yellow dotted line). From 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;
• Weekly chart – down;
• Bollinger bands – down.

General conclusion:

Today, the price may move downward from 1.2181 (close of yesterday's daily candle) to 1.2168, the 50% retracement level (yellow dotted line). In case of testing this level, continued downward movement is possible with the target of 1.2113, the 61.8% retracement level (yellow dotted line). From this level, the price may move up.

Alternative scenario: from the level of 1.2181 (close of yesterday's daily candle), the price may move downward to 1.2168, the 50% retracement level (yellow dotted line). In case of testing this level, an upward movement is possible with the target of 1.2224, the 38.2% retracement level (red dotted line).