Trend analysis (Fig. 1).
The pound-dollar pair may move upward from the level of 1.0964 (closing of yesterday's daily candle) to 1.1205, the 61.8% retracement level (blue dotted line). In the case of testing this level, a downward movement is possible to 1.1129, the 13-period EMA (thin yellow line). When testing 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;
- weekly chart – up;
- Bollinger Bands – up.
General conclusion:
Today the price may move upward from the level of 1.0964 (closing of yesterday's daily candle) to 1.1205, the 61.8% retracement level (blue dotted line). In the case of testing this level, a downward movement is possible to 1.1129, the 13-period EMA (thin yellow line). When testing this level, the price may move up.
Alternatively, the price may move upward from the level of 1.0964 (closing of yesterday's daily candle) to 1.1039, the 50.0% retracement level (blue dotted line). In the case of testing this level, a downward movement is possible to 1.0919, the 50.0% retracement level (yellow dotted line). When testing this level, the price may move up.
