Trend analysis (Fig. 1).
The pound-dollar pair may move up from the level of 1.2529 (close of yesterday's daily candle) to the upper fractal at 1.2600 (yellow dotted line). In case of testing this level, the price may continue to move upward with the target of 1.2725, the 50.0% 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 – up.
Today the price may move up from the level of 1.2529 (close of yesterday's daily candle) to the upper fractal at 1.2600 (yellow dotted line). In case of testing this level, the price may continue to move upward with the target of 1.2725, the 50.0% retracement level (red dotted line).
Alternative scenario: from the level of 1.2529 (close of yesterday's daily candle), the price may move downward to 1.2494, the 23.6% retracement level (yellow dotted line). In case of testing this level, upward movement is possible with the target of 1.2725, the 50.0% retracement level (red dotted line).
