Trend analysis (Fig. 1).
The pound-dollar pair may move upward from the level of 1.2039 (closing of yesterday's daily candle) to 1.2134, the 13-period EMA (thin yellow line). Upon reaching this level, a downward movement is possible.
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 1.2039 (closing of yesterday's daily candle) to 1.2134, the 13-period EMA (thin yellow line). Upon reaching this level, a downward movement is possible.
Alternatively, the price may move downward from the level of 1.2039 (closing of yesterday's daily candle) to 1.1946, the 38.2% retracement level (yellow dotted line). Upon reaching this level, the price may move up.
