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Trend analysis (Fig. 1).
The pound-dollar pair may move down from 1.2584 (close of yesterday's daily candle) to the target of 1.2533, the 14.6% retracement level (yellow dotted line). When testing this level, the price may move upward to the upper fractal 1.2600 (yellow dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
Today the price may move down from the level of 1.2584 (close of yesterday's daily candle) to the target of 1.2533, the 14.6% retracement level (yellow dotted line). When testing this level, the price may move upward to the upper fractal 1.2600 (yellow dotted line).
Alternative scenario: from the level of 1.2584 (close of yesterday's daily candle), the price may move downward with the target of 1.2494, the 23.6% retracement level (yellow dotted line). When testing this level, the price may move upward to the upper fractal 1.2600 (yellow 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.