Trend analysis (Fig. 1).
The pound-dollar pair may move upward from the level of 1.2098 (close of yesterday's daily candle) to the upper fractal at 1.2164 (daily candle from 07/04/2022). When testing this level, the price may continue to move upward to 1.2195, the 61.8% retracement level (red dotted line). From this level, continued upward movement is possible.
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.
General conclusion:
Today the price may move upward from the level of 1.2098 (close of yesterday's daily candle) to the upper fractal at 1.2164 (daily candle from 07/04/2022). When testing this level, the price may continue to move upward to 1.2195, the 61.8% retracement level (red dotted line). From this level, continued upward movement is possible.
Alternative scenario: from the level of 1.2098 (close of yesterday's daily candle), the price may move upward to 1.2152, the 50.0% retracement level (red dotted line). When testing this level, further downward movement is possible to 1.2043, the 76.4% retracement level (yellow dotted line). From this level, the price may continue to move up.
