The current price: 1.2420
Key point: 1.2350
Our preferred direction: buying positions above 1.2350 levels, targeting 1.2480 as a first target, then 1.2580 as a second target
Alternative scenario: stop the loss and change the direction by breaking 1.2350, targeting 1.2280.
Technical comment
The pound/dollar pair has reached the daily timeframe of the 100-day moving average, with a false break of the support levels 1.2355-1.2430, and the rise above, so that it is expected to rise again to the resistance levels 1.2480, then 1.2580 levels.
