Trend analysis (Figure 1)
The news of the past week had an upward trend. The price reached the support line of 1.3711 and then went up. Next week, most likely, there will be an upward trend, with the first target of 1.3752 - 38.2% recoil level (yellow dotted line). How much the probability of this scenario is likely will be shown by a comprehensive analysis.
Fig. 1 (weekly chart).
Indicator analysis on the weekly schedule (Figure 2).
The system of indicators ADX (Figure 2).
On the last run, the fast line (indicator 5 - white) and the slow line (indicator period 8 - blue) moved down. In this case, the trend should be determined from the indicators of the oscillator type.
The stochastic indicator (period 3/3/4) on the weekly chart gives an upward trend (Fig. 2).
The system of indicators RSI (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).
On the last closed candle.
The calculation of the indicator RSI (5) on the properties gives down.
The calculation of the indicator RSI (8) by properties gives down.
The bottom line: The RSI indicator system gives a downward trend.
The calculation of the indicator CCI on the properties gives up.
The bottom line: The CCI indicator system gives an upward trend.
A summary of the indicator analysis: The price on the weekly chart should have an upward trend.
The calculation of the first shadow of the week (Monday) on a weekly chart.
The middle lines EMA 1/5/8 is the upper signal.
The indicator "three lines" (the direction of the indicator lines CCI (5), RSI (5), stochastic with a period of 3/3/4) on the last run is the upper signal.
The calculation of the system indicators RSI for the first tail - down.
The bottom line: The weekly candlestick calculation for indicator analysis showed that on Monday, the price may have an upward trend, which should be confirmed by the daily chart.
The calculation of the second shadow of the week (Friday).
The calculation for the MACD linear part gave a downward trend (100 points down).
The calculation of the MACD histogram gave a downward trend (100 points down).
The bottom line: The calculation of the last day of the week on technical analysis showed that on Friday, the price may have a downward trend, which should be confirmed by the daily chart.
Fig. 2 (weekly chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- volumes - down;
- candlestick analysis - up;
- Trend analysis - up;
- Bollinger lines - up;
- Monthly graph - up.
Conclusion on the complex analysis is an upward movement.
The total result of the GBP / USD currency pair candlestick calculation according to the weekly chart: The price for the week is likely to have an upward trend with the absence of the first lower shadow of the weekly white candle and the presence of the second upper shadow.
The first target is 1.3752, 38.2%, the pullback level (yellow dotted line).
