Trend analysis (Fig. 1).
The pound-dollar pair will try to move up from the level of 1.2571 (close of yesterday's daily candle) to 1.2675, the 14.6% retracement level (red dotted line). In case of testing this level, the price may continue to move up with the target of 1.2741, the 23.6% retracement level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – up;
- Fibonacci levels – up;
- Volumes – up;
- Candlestick analysis – up;
- Trend analysis – up;
- Weekly chart – up;
- Bollinger bands – down.
Today, the price may move up from the level of 1.2571 (close of yesterday's daily candle) to 1.2675, the 14.6% retracement level (red dotted line). In case of testing this level, the price may continue to move up with the target of 1.2741, the 23.6% retracement level (red dotted line).
Alternative scenario: from the level of 1.2571 (close of yesterday's daily candle), the price may continue to move down to 1.2408, the 423.6% Fibonacci retracement level (yellow dotted line). In case of testing this level, the price may move up to the lower fractal at 1.2569 (red dotted line).
