Trend analysis (Fig. 1).
The pound-dollar pair may move downward from the level of 1.2065 (closing of yesterday's daily candle) to test 1.2033, the 50.0% pullback level (yellow dotted line). When testing this level, an upward movement is possible with the target at 1.2092, the 76.4% pullback level (yellow dotted line).
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 1.2065 (closing of yesterday's daily candle) to test 1.2033, the 50.0% pullback level (yellow dotted line). When testing this level, an upward movement is possible with the target at 1.2092, the 76.4% pullback level (yellow dotted line).
Alternatively, the price may move downward from the level of 1.2065 (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.
