Trend analysis (Fig. 1).
The pound-dollar pair may move upward from the level of 1.2230 (closing of Friday's daily candle) to 1.2294, the 76.4% pullback level (blue dotted line). From here, the price may continue to move up with the target of 1.2342, the upper fractal (yellow dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger bands - up;
- Weekly chart - up.
General conclusion:
Today, the price may move upward from the level of 1.2230 (closing of Friday's daily candle) to 1.2294, the 76.4% pullback level (blue dotted line). From here, the price may continue to move up with the target of 1.2342, the upper fractal (yellow dotted line).
Alternatively, the price may move upward from the level of 1.2230 (closing of Friday's daily candle) to 1.2294, the 76.4% pullback level (blue dotted line). From here, a downward movement is possible with the target of 1.2264, the 14.6% pullback level (yellow dotted line).
