Trend analysis (Fig. 1).
The pound-dollar pair may move upward from the level of 1.2207 (closing of yesterday's daily candle) to 1.2301, the 76.4% retracement level (red dotted line). Upon reaching this level, an upward 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 1.2207 (closing of yesterday's daily candle) to 1.2301, the 76.4% retracement level (red dotted line). Upon reaching this level, an upward movement is possible.
Alternatively, the price may move downward from the level of 1.2207 (closing of yesterday's daily candle) to 1.2137, the 23.6% retracement level (yellow dotted line). Upon reaching this level, an upward movement is possible.
