Trend analysis (Fig. 1).
The pound-dollar pair may move downward from the level of 1.1294 (close of Friday's daily candle) to 1.1222, the 23.6% retracement level (yellow dotted line). When testing this level, an upward movement is possible to the 1.1378 resistance level (thick red line). After testing this level, the price may continue to move upward with the target of 1.1494, the upper fractal (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- indicator analysis - up;
- Fibonacci levels - up;
- volumes - up;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger bands - down;
- weekly chart - up.
General conclusion:
Today, the price may move downward from the level of 1.1294 (close of Friday's daily candle) to 1.1222, the 23.6% retracement level (yellow dotted line). When testing this level, an upward movement is possible to the 1.1378 resistance level (thick red line). After testing this level, the price may continue to move upward with the target of 1.1494, the upper fractal (blue dotted line).
Alternatively, the price may move downward from the level of 1.1294 (close of Friday's daily candle) to the support level at 1.1095 (thick red line). After testing this level, the price may move upward with the target of 1.1494, the upper fractal (blue dotted line).
