Trend analysis (Fig. 1).
The pound-dollar pair may move upward from the level of 1.2040 (closing of Friday's daily candle) to 1.2092, the 76.4% pullback level (yellow dotted line). From this level, a downward movement is possible with the target of 1.2060, the 21-day EMA (thin yellow line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger bands - down;
- Weekly chart - up.
General conclusion:
Today, the price may move upward from the level of 1.2040 (closing of Friday's daily candle) to 1.2092, the 76.4% pullback level (yellow dotted line). From this level, a downward movement is possible with the target of 1.2060, the 21-day EMA (thin yellow line).
Alternatively, the price may move upward from the level of 1.2040 (closing of Friday's daily candle) to 1.2092, the 76.4% pullback level (yellow dotted line). Upon reaching this level, continued upward movement is possible with the target of 1.2113, the 85.4% pullback level (yellow dotted line).
