Trend analysis (Fig. 1).
The pound-dollar pair may move up from the level of 1.2570 (close of Friday's daily candle) to the target at 1.2619, the 23.6% retracement level (red dotted line). When testing this level, the price may continue to move upward with the target of 1.2748, the 38.2% 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;
- Bollinger bands – up;
- Weekly – chart up.
Today, the price may move up from the level of 1.2570 (close of Friday's daily candle) to the target at 1.2619, the 23.6% retracement level (red dotted line). When testing this level, the price may continue to move upward with the target of 1.2748, the 38.2% retracement level (red dotted line).
Alternative scenario: from the level of 1.2570 (close of Friday's daily candle), the price may move downward with the target of 1.2538, the 14.6% retracement level (red dotted line). From this level, an upward movement is possible.
