Trend analysis (Fig. 1).
The pound-dollar pair may move upward from the level of 1.2054 (closing of Friday's daily candle) to 1.2072, the 23.6% pullback level (yellow dotted line). When this level is reached, continued upward movement is possible with the target of 1.2143, the 38.2% pullback level (yellow dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger bands - down;
- Weekly chart - up.
General conclusion:
Today, the price may move upward from the level of 1.2054 (closing of Friday's daily candle) to 1.2072, the 23.6% pullback level (yellow dotted line). When this level is reached, continued upward movement is possible with the target of 1.2143, the 38.2% pullback level (yellow dotted line).
Alternatively, the price may move downward from the level of 1.2054 (closing of Friday's daily candle) to 1.1982, the 76.4% pullback level (blue dotted line). When testing this level, the price may move up.
