Trend analysis (Fig. 1).
The pound-dollar pair may move upward from the level of 1.2017 (closing of yesterday's daily candle) to 1.2060, the 61.8% pullback level (yellow dotted line). In the case of testing this level, continued upward movement is possible with the target of 1.2092, the 76.4% 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;
- Weekly chart - up;
- Bollinger bands - down.
General conclusion:
Today, the price may move upward from the level of 1.2017 (closing of yesterday's daily candle) to 1.2060, the 61.8% pullback level (yellow dotted line). In the case of testing this level, continued upward movement is possible with the target of 1.2092, the 76.4% pullback level (yellow dotted line).
Alternatively, the price may move upward from the level of 1.2017 (closing of yesterday's daily candle) to 1.2060, the 61.8% pullback level (yellow dotted line). In the case of testing this level, the price may move down to the 1.1969 support level (thick blue line).
