Pound Analysis (Daily Time Frame)
Based on the candlestick patterns formed last week around the critical 1.24786 level, it appears that GBP is inclined to continue its decline or remain in a ranging phase within the current area. The upcoming week’s price action will determine the next direction for this currency pair.
- Main Scenario: GBP is expected to complete its pullback and move towards 1.22927 and 1.21029.
- Alternative Scenario: If GBP reverses upwards from the current zone and stabilizes above 1.25256, it could aim for the next resistance at 1.28115.
Pound Analysis (4-Hour Time Frame)
- Main Scenario: If GBP stabilizes below 1.23946, it may initially decline towards 1.22943 and then extend the move to 1.21029.
- Alternative Scenario: If GBP successfully stabilizes above 1.24726, it may continue its bullish movement toward the next target at 1.28115.
Pound Analysis (15-Minute Time Frame)
- Main Scenario: If GBP finds support at the current levels and breaks above 1.24104, stabilizing above it, the next target will be 1.24715.
- Alternative Scenario: If GBP continues its decline and breaks below 1.23872, the next downside target will be 1.22943.