Indicator analysis: Daily review of GBP/USD on May 11, 2023
Trend analysis (Fig. 1). The market may move downward from the level of 1.2621 (closing of yesterday’s daily candle) with the target of 1.2550, the 38.2% pullback level (blue dotted line). When testing this level, the price may move upward with the target of 1.2582, the historical resistance level (blue dotted line). Fig. 1 (daily […]