Trend analysis (Fig. 1).
The pound-dollar pair may move upward from the level of 1.2043 (closing of yesterday's daily candle) to 1.2142, the 21-period SMA (black dotted line). When testing this level, continued upward movement is possible to 1.2213, the historical resistance level (blue dotted line).
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 1.2043 (closing of yesterday's daily candle) to 1.2142, the 21-period SMA (black dotted line). When testing this level, continued upward movement is possible to 1.2213, the historical resistance level (blue dotted line).
Alternatively, the price may move downward from the level of 1.2043 (closing of yesterday's daily candle) to 1.1946, the 38.2% retracement level (yellow dotted line). Upon testing this level, the price may move up.
