Trend analysis (Fig. 1).
The pound-dollar pair may move down from the level of 1.3057 (close of Friday's daily candle) to the support level of 1.2992 (thick red line). In case of testing this level, the price may begin to move up with the target of 1.3018, the 14.6% retracement level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Fibonacci levels – down;
- Volumes – up;
- Candlestick analysis – down;
- Trend analysis – up;
- Bollinger bands – down;
- Weekly chart – down.
General conclusion:
Today, the price may move down from the level of 1.3057 (close of Friday's daily candle) to the support level of 1.2992 (thick red line). In case of testing this level, the price may begin to move up with the target of 1.3018, the 14.6% retracement level (red dotted line).
Alternative scenario: from the level of 1.3057 (close of Friday's daily candle), the price may move downward with the target of 1.3012, the 76.4% retracement level (yellow dotted line). From this level, upward movement is possible with the target of 1.3047, the 23.6% retracement level (red dotted line). From here, the price may continue to move up.
