Trend analysis (Fig. 1).
The pound-dollar pair may move downward from the level of 1.2285 (closing of yesterday's daily candle) to 1.2209, the 23.6% pullback level (yellow dotted line). Upon reaching this level, an upward movement is possible with the target of 1.2352, the 85.4% pullback level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger bands - up;
- Weekly chart - up.
General conclusion:
Today, the price may move downward from the level of 1.2285 (closing of yesterday's daily candle) to 1.2209, the 23.6% pullback level (yellow dotted line). Upon reaching this level, an upward movement is possible with the target of 1.2352, the 85.4% pullback level (blue dotted line).
Alternatively, the price may move downward from the level of 1.2285 (closing of yesterday's daily candle) to 1.2256, the 14.6% pullback level (yellow dotted line). Upon reaching this level, an upward movement is possible with the target of 1.2352, the 85.4% pullback level (blue dotted line).
