Trend analysis (Fig. 1).
The pound-dollar pair may move upward from the level of 1.2091 (close of yesterday's daily candle) to 1.2112, the 61.8% retracement level (red dotted line). In case of testing this level, continued upward movement is possible with the target of 1.2196, the 76.4% retracement level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – up;Fibonacci levels – up;Volumes – up;Candlestick analysis – down;Trend analysis – up;Weekly chart – up;Bollinger Bands – up.General conclusion:
Today, the price may move upward from the level of 1.2091 (close of yesterday's daily candle) to 1.2112, the 61.8% retracement level (red dotted line). In case of testing this level, continued upward movement is possible with the target of 1.2196, the 76.4% retracement level (red dotted line).
Alternative scenario: from the level of 1.2091 (close of yesterday's daily candle), the price may move downward to 1.2025, the 50.0% retracement level (blue dotted line). When testing this level, an upward movement is possible with the target of 1.2112, the 61.8% retracement level (red dotted line).