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Trend analysis (Fig. 1).
The pound-dollar pair may move down from 1.2490 (close of yesterday's daily candle) to 1.2366, the 38.2% retracement level (yellow dotted line). In case of testing this level, the price may move upward with the target of 1.2590, the 38.2% retracement level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
Today the price may move down from the level of 1.2490 (close of yesterday's daily candle) to 1.2366, the 38.2% retracement level (yellow dotted line). In case of testing this level, the price may move upward with the target of 1.2590, the 38.2% retracement level (red dotted line).
Alternative scenario: from the level of 1.2490 (close of yesterday's daily candle), the price may move downward to 1.2217, the 23.6% retracement level (yellow dotted line). In case of testing this level, the price may move up with the target of 1.2590, the 38.2% retracement level (red dotted line).InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.