Trend analysis (Fig. 1).
The pound-dollar pair may move upward from the level of 1.1956 (closing of yesterday's daily candle) to the upper fractal at 1.2152 (yellow dotted line). When testing this level, continued upward movement is possible to 1.2213, the historical resistance level (blue dotted line). From this level, the price may roll back down.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - 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 1.1956 (closing of yesterday's daily candle) to the upper fractal at 1.2152 (yellow dotted line). When testing this level, continued upward movement is possible to 1.2213, the historical resistance level (blue dotted line). From this level, the price may roll back down.
Alternatively, the price may move upward from the level of 1.1956 (closing of yesterday's daily candle) to the upper fractal at 1.2152 (yellow dotted line). When testing this level, a downward pullback is possible to 1.2008, the 14.6% retracement level (blue dotted line). From this level, the price may move up.
