Trend analysis (Fig. 1).
The pound-dollar pair may move downward from the level of 1.2423 (closing of yesterday's daily candle) to 1.2348, the 5-period EMA (thin red line). When testing this level, an upward movement is possible to 1.2472, the historical resistance level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger bands - up;
- Weekly chart - up.
General conclusion:
Today, the price may move downward from the level of 1.2423 (closing of yesterday's daily candle) to 1.2348, the 5-period EMA (thin red line). When testing this level, an upward movement is possible to 1.2472, the historical resistance level (blue dotted line).
Alternatively, the price may move downward from the level of 1.2423 (closing of yesterday's daily candle) to 1.2303, the 8-period EMA (thin blue line). When testing this level, an upward movement is possible to the upper fractal at 1.2443 (yellow dotted line).
