Trend analysis (Fig. 1).
The pound-dollar pair may move upward from the level of 1.1319 (close of yesterday's daily candle) to 1.1533, the 85.4% retracement level (blue dotted line). When testing this level, a downward movement is possible to the historical support level 1.1421 (blue dotted line). From this level, 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 upward from the level of 1.1319 (close of yesterday's daily candle) to 1.1533, the 85.4% retracement level (blue dotted line). When testing this level, a downward movement is possible to the historical support level 1.1421 (blue dotted line). From this level, the price may move up.
Alternatively, the price may move upward from the level of 1.1319 (close of yesterday's daily candle) to 1.1546, the 76.4% retracement level (blue dotted line). When testing this level, a downward movement is possible to the support level 1.1224 (thick red line).
