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23.01.202309:48 Forex Analysis & Reviews: Indicator analysis: Daily review of GBP/USD on January 23, 2023

Trend analysis (Fig. 1).

The pound-dollar pair may move upward from the level of 1.2394 (closing of Friday's daily candle) to the upper fractal at 1.2442 (red dotted line). Upon reaching this level, a downward movement is possible to 1.2347, the 14.6% retracement level (blue dotted line). When testing this level, the price may move upward to the upper fractal at 1.2442 (red dotted line).

Exchange Rates 23.01.2023 analysis

Fig. 1 (daily chart).

Comprehensive analysis:

  • Indicator analysis - down;
  • Fibonacci levels - down;
  • Volumes - down;
  • Candlestick analysis - down;
  • Trend analysis - up;
  • Bollinger bands - up;
  • Weekly chart - up.

General conclusion:

Today, the price may move upward from the level of 1.2394 (closing of Friday's daily candle) to the upper fractal at 1.2442 (red dotted line). Upon reaching this level, a downward movement is possible to 1.2347, the 14.6% retracement level (blue dotted line). When testing this level, the price may move upward to the upper fractal at 1.2442 (red dotted line).

Alternatively, the price may move upward from the level of 1.2394 (closing of Friday's daily candle) to the upper fractal at 1.2442 (red dotted line). Upon reaching this level, a downward movement is possible to 1.2294, the 23.6% retracement level (blue dotted line). When testing this level, the price may move upward to the upper fractal at 1.2442 (blue dotted line).

*Analisis pasar yang diposting disini dimaksudkan untuk meningkatkan pengetahuan Anda namun tidak untuk memberi instruksi trading.

Stefan Doll,
Analytical expert of InstaSpot
© 2007-2025
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