FX.co ★ Indicator analysis. GBP/USD daily overview on August 4, 2022

Trend analysis (Fig. 1).

On Thursday, the price may go up from 1.2144 (closing of yesterday's daily candlestick) to the 76.4% retracement level of 1.2196 (red dotted line). Should the quote test this mark, it may then rise to the 85.4% retracement level of 1.2247 (red dotted line) and extend the uptrend.

Fig. 1 (daily chart).

Complex analysis:

- indicator analysis - down

- Fibonacci levels - down

- volumes - down

- candlestick analysis - up

- trend analysis - up

- Bollinger bands - up

- weekly chart - up

Final thoughts:

On Thursday, the price may go up from the mark of 1.2144 (closing of yesterday's daily candlestick) to the 76.4% retracement level of 1.2196 (red dotted line). Should the quote test this mark, it may then rise to the 85.4% retracement level of 1.2247 (red dotted line) and extend the uptrend.

Alternative scenario: the price may go up from the mark of 1.2144 (closing of yesterday's daily candlestick) to the 76.4% retracement level of 1.2196 (red dotted line). Should the quote test this mark, a pullback may occur to the 38.2% retracement level of 1.2084 (blue dotted line), and then the uptrend could extend.