Trend analysis (Fig. 1).
The pound-dollar pair may move upward from the level of 1.2282 (closing of yesterday's daily candle) to test 1.2352, the 85.4% pullback level (blue dotted line). When testing this level, continued upward movement is possible to 1.2446, the upper fractal (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - 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 1.2282 (closing of yesterday's daily candle) to test 1.2352, the 85.4% pullback level (blue dotted line). When testing this level, continued upward movement is possible to 1.2446, the upper fractal (blue dotted line).
Alternatively, the price may move upward from the level of 1.2282 (closing of yesterday's daily candle) to test 1.2342, the upper fractal (yellow dotted line). When testing this level, the price may move downward with the target of 1.2294, the 76.4% pullback level (blue dotted line).
