Trend analysis (Figure 1).
There was an upward trend in the previous week. The price will try to break through the upper fractal 1.4344 and reach the resistance line 1.4417 (white solid line) in the upcoming week. The main question for next week is whether the market will reach the resistance line. How much the probability of this scenario is likely will be shown by a comprehensive analysis.
Fig. 2 (weekly chart).
Complex analysis:
- indicator analysis - down;
- Fibonacci levels - up;
- volumes - upwards;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger lines - up;
- monthly graph - up.
Conclusion on the complex analysis is an upward movement.
According to the weekly chart, the total result in calculating the candle of the GBP / USD currency pair 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 1.4344 which is on the upper fractal.
