Trend analysis (Fig. 1).
The pound-dollar pair may move down from 1.2490 (close of yesterday's daily candle) to 1.2366, the 38.2% retracement level (yellow dotted line). In case of testing this level, the price may move upward with the target of 1.2590, the 38.2% 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;
- Weekly chart – up;
- Bollinger Bands – up.
Today the price may move down from the level of 1.2490 (close of yesterday's daily candle) to 1.2366, the 38.2% retracement level (yellow dotted line). In case of testing this level, the price may move upward with the target of 1.2590, the 38.2% retracement level (red dotted line).
Alternative scenario: from the level of 1.2490 (close of yesterday's daily candle), the price may move downward to 1.2217, the 23.6% retracement level (yellow dotted line). In case of testing this level, the price may move up with the target of 1.2590, the 38.2% retracement level (red dotted line).
