Trend analysis (Fig. 1).
The pound-dollar pair may move upward from the level of 1.1468 (close of yesterday’s daily candle) to 1.1643, the historical resistance level (blue dotted line). In the case of testing this level, a downward movement is possible to the upper fractal 1.1498 (blue dotted line). When testing this level, the price may move up.
Fig. 1 (daily chart).
Comprehensive analysis:
- indicator analysis – up;
- Fibonacci levels – up;
- volumes – up;
- candlestick analysis – up;
- trend analysis – up;
- weekly chart – up;
- Bollinger Bands – up.
General conclusion:
Today, the price may move upward from the level of 1.1468 (close of yesterday’s daily candle) to 1.1643, the historical resistance level (blue dotted line). In the case of testing this level, a downward movement is possible to the upper fractal 1.1498 (blue dotted line). When testing this level, the price may move up.
Alternatively, the price may move downward from the level of 1.1468 (close of yesterday’s daily candle) to the 1.1393 support level (thick red line). In the case of testing this level, an upward movement is possible to the 1.1672 resistance level (thick red line).
The material has been provided by InstaForex Company – www.instaforex.com
