Trend analysis (Fig. 1).
The pound-dollar pair may move downward from the level of 1.2169 (closing of yesterday's daily candle) to 1.2074, the 23.6% pullback level (blue dotted line). In the case of testing this level, an upward movement is possible with the target at 1.2259, the 61.8% pullback level (yellow dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - up;
- Trend analysis - up;
- Weekly chart - up;
- Bollinger bands - down.
General conclusion:
Today, the price may move downward from the level of 1.2169 (closing of yesterday's daily candle) to 1.2074, the 23.6% pullback level (blue dotted line). In the case of testing this level, an upward movement is possible with the target at 1.2259, the 61.8% pullback level (yellow dotted line).
Alternatively, the price may move downward from the level of 1.2169 (closing of yesterday's daily candle) to 1.2072, the 61.8% pullback level (blue dotted line). In the case of testing this level, the price may move up.
