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Trend analysis (Fig. 1).
The pound-dollar pair may move upward from the level of 1.2107 (closing of yesterday's daily candle) to 1.2183, the 76.4% pullback level (yellow dotted line). In the case of testing this level, continued upward movement is possible with the target of 1.2216, the 85.4% pullback level (yellow dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move upward from the level of 1.2107 (closing of yesterday's daily candle) to 1.2183, the 76.4% pullback level (yellow dotted line). In the case of testing this level, continued upward movement is possible with the target of 1.2216, the 85.4% pullback level (yellow dotted line).
Alternatively, the price may move upward from the level of 1.2107 (closing of yesterday's daily candle) to 1.2132, the 61.8% pullback level (yellow dotted line). In the case of testing this level, the price may move down.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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