Trend analysis (Fig. 1).
The pound-dollar pair may move downward from the level of 1.2179 (closing of yesterday's daily candle) to 1.2104, the 21-period SMA (black dotted line). When testing this level, an upward movement is possible to 1.2213, the historical resistance level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Volumes - down;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger bands - up;
- Weekly chart - up.
General conclusion:
Today, the price may move downward from the level of 1.2179 (closing of yesterday's daily candle) to 1.2104, the 21-period SMA (black dotted line). When testing this level, an upward movement is possible to 1.2213, the historical resistance level (blue dotted line).
Alternatively, the price may move downward from the level of 1.2179 (closing of yesterday's daily candle) to the 1.2059 support level (thick blue line). Upon reaching this level, the price may move up.
