The Pound Index is nearing a new expected upward move

The Pound Index has reached strong demand zones on the daily timeframe.

The index has also reached overlapping zones on the 4-hour and 1-hour timeframes.

Currently, the index has broken out of its sideways movement on the 1-hour timeframe,

which represented accumulation activity, 

and a minor downtrend has also been broken.

All indicators so far point to an upward move

 for the index in the short and medium term.

Therefore, we expect to see an upward move for the Pound Index, which means

strength for the pound against most major currencies.

Expected Targets

We expect to see an upward move from current prices or from the LPS levels,

which represent resistance zones broken thanks to the effort candlestick.

These are also strong areas at the moment.

If the upward move occurs, we expect to see a rise to the targets identified

on the chart, which are located at the 2.7520 and 2.7560 levels.