Trend analysis (Fig. 1).
The pound-dollar pair may move upward from the level of 1.2144 (closing of yesterday's daily candle) to 1.2214, the 61.8% retracement level (red dotted line). In the case of testing this level, continued upward movement is possible to 1.2301, the 76.4% retracement level (red 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 1.2144 (closing of yesterday's daily candle) to 1.2214, the 61.8% retracement level (red dotted line). In the case of testing this level, continued upward movement is possible to 1.2301, the 76.4% retracement level (red dotted line).
Alternatively, the price may move upward from the level of 1.2144 (closing of yesterday's daily candle) to 1.2214, the 61.8% retracement level (red dotted line). When testing this level, a downward movement is possible to 1.2137, the 23.6% retracement level (yellow dotted line). After reaching this level, the price may move up.
