Pound Analysis (Daily Time Frame)
The Pound, which reached both its static and dynamic support levels two weeks ago, managed to make a relatively decent rebound. However, given the previous downward leg and the fact that the price is at the previous low zone, a full reversal is not expected at this moment.
Main Scenario: Since the price reversal has occurred at an important level, it is expected that the price will move towards the 1.03517 zone this week. If this zone is broken, the price could continue towards the 1.34229 zone.
Alternative Scenario: If the price begins to decline again from these levels and breaks the 1.24875 support, the next targets would be 1.23031, and then 1.20408.
Pound Analysis (4-Hour Time Frame)
In the 4-hour time frame, if the price breaks and stabilizes above its previous high at 1.26188, it could first target the 1.30517 zone.
However, if the price reverses and stabilizes below the 1.24875 zone, it could form lower lows and move towards the 1.23031 level.
Pound Analysis (15-Minute Time Frame)
In the 15-minute time frame, the price has had a steep decline and has broken below the 1.27241 low, creating a lower low. If, at the start of this week, the price fails to reclaim the 1.27557 zone, it could continue its decline after breaking the last low at 1.27241, potentially reaching the 1.26871 zone.
However, if the price manages to reclaim and stabilize above the 1.27557 level, it could recover its previous high at 1.28113 and potentially move higher.