Trend analysis (Fig. 1).
The pound-dollar pair may move up from the level of 1.1950 (close of yesterday's daily candle) to 1.2044, the 50% retracement level (red dotted line). When testing this level, a downward movement is possible to 1.2039, the 21-period EMA (thin yellow line). From here, the price may move up.
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.
General conclusion:
Today, the price may move up from the level of 1.1950 (close of yesterday's daily candle) to 1.2044, the 50% retracement level (red dotted line). When testing this level, a downward movement is possible to 1.2039, the 21-period EMA (thin yellow line). From here, the price may move up.
Alternative scenario: from the level of 1.1950 (close of yesterday's daily candle), the price may move upward to 1.1977, the 38.2% retracement level (red dotted line). When testing this level, a downward movement is possible to the historical support level 1.1920 (blue dotted line). From here, the price may move up.
