Trend analysis (Fig. 1).
The pound-dollar pair may move upward from the level of 1.2050 (closing of yesterday's daily candle) to 1.2213, the historical resistance level (blue dotted line). When testing this level, a downward movement is possible with the target at 1.2112, the upper fractal (yellow dotted line).
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 1.2050 (closing of yesterday's daily candle) to 1.2213, the historical resistance level (blue dotted line). When testing this level, a downward movement is possible with the target at 1.2112, the upper fractal (yellow dotted line).
Alternatively, the price may move upward from the level of 1.2050 (closing of yesterday's daily candle) to 1.2213, the historical resistance level (blue dotted line). When testing this level, continued upward movement is possible with the target at 1.2290, the upper fractal (blue dotted line).
