The current price: 1.2245
Key point: 1.2010
Our preferred direction: buying positions above 1.2010 levels, targeting 1.2450 as a first target, then 1.2550 as a second target
Alternative scenario: stop the loss and change the direction by breaking 1.2010, targeting 1.1880.
Technical comment
The pound dollar is moving in an ascending trend line on the daily time frame, from last September’s low, and currently above the support levels 1.1910-1.2010, and the 200-day moving average, so that it is expected to complete the price’s rise to 1.2450 levels.
