Trend analysis (Fig. 1).
The pound-dollar pair may move downward from the level of 1.2024 (closing of yesterday's daily candle) to 1.1982, the 76.4% pullback level (blue dotted line). When testing this level, an upward movement is possible with the target of 1.2060, the 61.8% pullback level (yellow dotted line). From this level, the price may continue to move up.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger bands - down;
- Weekly chart - up.
General conclusion:
Today, the price may move downward from the level of 1.2024 (closing of yesterday's daily candle) to 1.1982, the 76.4% pullback level (blue dotted line). When testing this level, an upward movement is possible with the target of 1.2060, the 61.8% pullback level (yellow dotted line). From this level, the price may continue to move up.
Alternatively, the price may move downward from the level of 1.2024 (closing of yesterday's daily candle) to 1.1954, the 14.6% pullback level (yellow dotted line). When testing this level, an upward movement is possible to 1.2060, the 61.8% pullback level (yellow dotted line). From this level, the price may continue to move up.
