Trend analysis (Fig. 1).
The pound-dollar pair may move downward from the level of 1.2181 (closing of yesterday's daily candle) to test 1.2105, the 23.6% pullback level (yellow dotted line). When testing this level, the price may move upward to 1.2198, the upper fractal (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 1.2181 (closing of yesterday's daily candle) to test 1.2105, the 23.6% pullback level (yellow dotted line). When testing this level, the price may move upward to 1.2198, the upper fractal (yellow dotted line).
Alternatively, the price may move downward from the level of 1.2181 (closing of yesterday's daily candle) to test 1.2070, the 5-day EMA (thin red line). When testing this level, the price may move up.
