Pound Analysis (Daily Time Frame)
The pound has dropped to its lowest level since May, reaching around $1.25. Currently, the pound has fallen by 1.25% against the U.S. dollar this week, and it has been another tough week for the pound. There is no reason to buy the pound at the moment, as the UK’s economic outlook continues to disappoint, and the Economic Surprise Index for the UK remains close to its lowest level since March.
- Main Scenario: Sell positions can be taken from price corrections around 1.27159, targeting 1.2305 and 1.20407.
- Alternative Scenario: If the price breaks and stabilizes above 1.27155, the price will continue to rise towards 1.32332.
Pound Analysis (4-Hour Time Frame)
- Main Scenario: Price is expected to rise towards the 1.26604 zone, where sell positions can be entered with targets at 1.24588 and 1.24827.
- Alternative Scenario: A price drop towards 1.24469 can occur, and from this level, with confirmation, buy positions can be taken targeting 1.29401.
Pound Analysis (15-Minute Time Frame)
The price is within a range. A breakout from the range’s upper boundary is expected. If the price breaks the TR upper boundary, it is expected to rise towards 1.25827.