Trend analysis (Fig. 1).
The pound-dollar pair may move upward from the level of 1.2284 (closing of yesterday's daily candle) to 1.2356, the 85.4% retracement level (red dotted line). In the case of testing this level, a downward movement is possible.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Weekly chart - up;
- Bollinger Bands - up.
General conclusion:
Today, the price may move upward from the level of 1.2284 (closing of yesterday's daily candle) to 1.2356, the 85.4% retracement level (red dotted line). In the case of testing this level, a downward movement is possible.
Alternatively, the price may move upward from the level of 1.2284 (closing of yesterday's daily candle) to 1.2301, the 76.4% retracement level (red dotted line). In the case of testing this level, a downward movement is possible to 1.2253, the 14.6% retracement level (yellow dotted line).
