Indicator analysis: Daily review of GBP/USD on June 22, 2022 | InstaForex

GBP: Softer Ahead of CPI Risk Event

Relevance up to 09:00 2022-06-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Trend analysis (Fig. 1).

The pound-dollar pair may move down from the level of 1.2275 (close of yesterday's daily candle) to 1.2168, the 50% retracement level (yellow dotted line). In case of testing this level, the price may move upward with the target of 1.2385, the 61.8% retracement level (red dotted line).

 

Exchange Rates 22.06.2022 analysis

 

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today the price may move down from the level of 1.2275 (close of yesterday's daily candle) to 1.2168, the 50% retracement level (yellow dotted line). In case of testing this level, the price may move upward with the target of 1.2385, the 61.8% retracement level (red dotted line).

Alternative scenario: from the level of 1.2275 (close of yesterday's daily candle), the price may move downward to 1.2168, the 50.0% retracement level (yellow dotted line). In case of testing this level, continued downward movement is possible with the target of 1.2112, the 61.8% retracement level (yellow dotted line). Upon reaching this level, the price may move up.

 

Read more: https://www.instaforex.eu/forex_analysis/314169

GBP: Softer Ahead of CPI Risk Event

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