FX.co ★ Indicator analysis of GBP/USD on April 21, 2023

Trend analysis (Fig. 1).

On Friday, the pair will attempt to go down from 1.2438 (the close of yesterday's candlestick) to the 76.4% retracement level of 1.2391 (the blue dotted line). A bullish correction will occur if the pair reaches the target.

Fig. 1 (daily chart).

Complex analysis:

- indicator analysis - down;

- Fibonacci levels - down;

- volumes - down;

- candlestick analysis - down;

- trend analysis - up;

- Bollinger bands - up;

- weekly chart - down.

Final thoughts:

Today, the pair will attempt to go down from 1.2438 (the close of yesterday's candlestick) to the 76.4% retracement level of 1.2391 (the blue dotted line). A bullish correction will occur if the pair reaches the target. In such a case, the mark of 1.2467 will stand as the next target.

Alternatively, from the level of 1.2438 (the close of yesterday's candlestick), the price may fall to the 85.4% retracement level of 1.2373 (the blue dotted line). A bullish correction may occur if the pair reaches the target. In such a case, the mark of 1.2473 will stand as the next target (the daily candlestick formed on April 19, 2023).