Pound Analysis (Daily Time Frame)
As mentioned in last week’s main scenario, GBP successfully broke above the 1.25484 resistance and stabilized, making the path for further upward movement smoother.
- Main Scenario (Higher Probability):
If GBP stabilizes above the 1.26139 level this week, its next target will be 1.28118. - Alternative Scenario (Lower Probability):
If GBP fails to break above the current level and faces rejection, and the last two candles form an engulfing pattern, it could decline toward the 1.23369 support and later 1.22503.
Pound Analysis (4-Hour Time Frame)
- Main Scenario:
Since GBP broke and stabilized above 1.25484, it is expected to complete a pullback to this zone before continuing upward toward 1.28118. - Alternative Scenario:
If GBP moves downward and closes below 1.24531, it could continue declining toward lower support levels, with the first target being 1.23369.
Pound Analysis (15-Minute Time Frame)
- e GBP lost its previous support at 1.26015 and stabilized below it, a temporary retracement upward might occur before continuing its downward movement toward 1.25720 and potentially lower levels.
- Alternative Scenario:
If GBP rebounds from the current levels, its first target will be 1.26015. If it breaks and stabilizes above this level, the next upside target will be 1.26223.