Trend analysis (Fig. 1).
The pound-dollar pair may move upward from 1.2244 (close of yesterday's daily candle) to 1.2385, the 61.8% retracement level (red dotted line). When testing this level, a pullback down is possible to 1.2335, the 14.6% retracement level (yellow dotted line). From this level, it is possible to continue the upward movement.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – up;
- Fibonacci levels – up;
- Volumes – up;
- Candlestick analysis – down;
- Trend analysis – up;
- Bollinger bands – up;
- Weekly chart – up.
Today the price may move upward from 1.2244 (close of yesterday's daily candle) to 1.2385, the 61.8% retracement level (red dotted line). When testing this level, a pullback down is possible to 1.2335, the 14.6% retracement level (yellow dotted line). From this level, it is possible to continue the upward movement.
Alternative scenario: from the level of 1.2244 (close of yesterday's daily candle), the price may move upward to 1.2385, the 61.8% retracement level (red dotted line). When testing this level, an upward movement is possible to 1.2493, the 76.4% retracement level (red dotted line). From this level, the price may move down.
