Trend analysis (Fig. 1).
The pound-dollar pair may move down from the level of 1.3012 (close of yesterday's daily candle) to the support level at 1.2987 (thick red line). When testing this level, the price may move upward with the target at 1.3018, the 14.6% retracement level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Fibonacci levels – down;
- Volumes - down;
- Candlestick analysis – down;
- Trend analysis – up;
- Bollinger bands – down;
- Weekly chart – up.
General conclusion:
Today, the price may move down from the level of 1.3012 (close of yesterday's daily candle) to the support level at 1.2987 (thick red line). When testing this level, the price may move upward with the target at 1.3018, the 14.6% retracement level (red dotted line).
Alternative scenario: from the level of 1.3012 (close of yesterday's daily candle), the price may move down with the target at 1.2942, the lower limit of the Bollinger Band indicator (black dotted line). When testing this level, the price may move upward with the target at 1.3018, the 14.6% retracement level (red dotted line).
