Pound Analysis (Daily Time Frame)
As expected from last week’s analysis, the Pound experienced a decline, reaching the 1.23519 level, and the outlook remains bearish. Therefore:
- Main Scenario: Given the break below the 1.24758 support, the Pound could make a temporary move towards this level to test it, and then continue its downward movement. The first target will be 1.22992, followed by 1.21878.
- Alternative Scenario: If the Pound moves upwards and reclaims the 1.26074 level, it could target 1.27256 and 1.28115.
Pound Analysis (4-Hour Time Frame)
- Main Scenario: After a temporary upward reversal reaching the 1.24758 level, the Pound is expected to resume its decline, targeting 1.23519 and then 1.22992.
- Alternative Scenario: If the Pound manages to reclaim the 1.25337 level during its upward move, the next targets will be 1.26074 and 1.27256.
Pound Analysis (15-Minute Time Frame)
- Main Scenario: If the Pound breaks below 1.23880, the next targets will be 1.23519 and 1.22992.
- Alternative Scenario: If the Pound breaks above 1.24344 and consolidates, it could move towards the next resistance at 1.24758.