Trend analysis (Fig. 1).
The pound-dollar pair may move downward from the level of 1.2036 (closing of yesterday's daily candle) to test 1.1982, the 76.4% pullback level (blue dotted line). When testing this level, the price may move up.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - down;
- Bollinger bands - bottom;
- Weekly chart - down.
General conclusion:
Today, the price may move downward from the level of 1.2036 (closing of yesterday's daily candle) to test 1.1982, the 76.4% pullback level (blue dotted line). When testing this level, the price may move up.
Alternatively, the price may move downward from the level of 1.2036 (closing of yesterday's daily candle) to test the 1.1941 support level (thick blue line). When testing this level, the price may move up.
