Pound Analysis (Daily Time Frame)
In the past week, the British Pound opened the trading week with a bearish gap due to sentimental events. However, it quickly recovered the gap and moved toward its previous high, successfully breaking it but failing to hold above. Eventually, the Pound experienced a decline in the last two trading days, reaching 1.24006.
- Main Scenario: After some range-bound movement, the Pound is expected to break above 1.25496. If it stabilizes above this level, the next target will be 1.28118.
- Alternative Scenario: If the Pound fails to maintain its strength and declines further, the first downside target will be 1.22503. A break below this level could lead to 1.21601 and 1.20999.
Pound Analysis (4-Hour Time Frame)
- Main Scenario: If the Pound breaks and stabilizes below 1.23608, the next target will be 1.22503.
- Alternative Scenario: If the Pound reverses upward and breaks above 1.24946, confirming stability, it could move towards 1.26139 and higher levels.
Pound Analysis (15-Minute Time Frame)
- Main Scenario: If the Pound continues its downward movement and breaks below 1.23761, stabilizing beneath it, the next downside target will be 1.23369.
- Alternative Scenario: If the Pound reverses upward and breaks above 1.24224, confirming stability, it could aim for 1.24946 as its next resistance level.