Trend analysis (Figure 1).
On Friday, the price moved in the side channel. While on Monday, the market will continue to move downwards with the first target at 1.3661, which is the support line. The complex analysis will accurately determine the further direction of the price.
Fig. 1 (daily chart).
Indicator analysis on the daily schedule (Figure 2).
The system of ADX indicators (Figure 2).
On the last run, the fast line (indicator 5 - white) moved upward, and the slow line (indicator period 8 - blue) moved down. In this case, the trend should be determined by the oscillator type indicators.
Stochastic indicator (period 3/3/4) on the daily chart shows a downward trend (Fig. 2).
The system of RSI indicators (Figure 2).
When working with the daily chart, the following periods are used in the RSI indicator system: 21 (brown), 8 (blue), 13 (yellow), 5 (red).
At the last day's closed candle.
The calculation of the RSI indicator (5) on the properties moves down.
Calculation of the RSI indicator (8) by properties moves down.
The bottom line of the RSI indicator system shows a downward trend.
The calculation of the CCI indicator.
The bottom line of the CCI indicator system shows an upward trend.
The result of the indicator analysis shows the price will have a downward trend.
Fig. 2 (daily chart).
Complex analysis:
- indicator analysis - down;
- Fibonacci levels - down;
- volumes - down;
- candlestick analysis - up;
- trend analysis - down;
- Bollinger lines - down;
- Weekly schedule - down.
General conclusion:
On Monday, the GBP / USD pair may continue to move downwards with the first target at 1.3669 support line.
