Trend analysis (Fig. 1).
The pound-dollar pair may move upward from the level of 1.2028 (closing of yesterday's daily candle) to 1.2072, the 23.6% pullback level (yellow dotted line). When testing this level, 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 - up;
- Weekly chart - up.
General conclusion:
Today, the price may move upward from the level of 1.2028 (closing of yesterday's daily candle) to 1.2072, the 23.6% pullback level (yellow dotted line). When testing this level, continued upward movement is possible with the target of 1.2143, the 38.2% pullback level (yellow dotted line).
Alternatively, the price may move upward from the level of 1.2028 (closing of yesterday's daily candle) to 1.2072, the 23.6% pullback level (yellow dotted line). When testing this level, a downward movement is possible with the target of 1.1989, the lower fractal (daily candle from 15/02/2023).
