Trend analysis (Fig. 1).
The pound-dollar pair may move upward from the level of 1.2051 (closing of yesterday's daily candle) to 1.2133, 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;
- 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 1.2051 (closing of yesterday's daily candle) to 1.2133, 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 upward from the level of 1.2051 (closing of yesterday's daily candle) to 1.2133, the 21-period SMA (black dotted line). In the case of testing this level, a downward movement is possible to the 1.1975 support level (thick blue line). From this level, the price may move up.
