Trend analysis (Fig. 1).
The pound-dollar pair may move upward from 1.2217 (close of Friday's daily candle) to the target of 1.2298, the 50% retracement level (red dotted line). Upon reaching this level, the price may continue to move upward with the target of 1.2385, the 61.8% 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 upward from 1.2217 (close of Friday's daily candle) to the target of 1.2298, the 50% retracement level (red dotted line). Upon reaching this level, the price may continue to move upward with the target of 1.2385, the 61.8% retracement level (red dotted line).
Alternative scenario: from the level of 1.2217 (close of Friday's daily candle), the price may move down with the target of 1.2112, the 61.8% retracement level (yellow dotted line). Upon reaching this level, an upward movement is possible with the target of 1.2212, the 38.2% retracement level (red dotted line).
