Trend analysis (Figure 1).
Last week, the price went down. In the coming week, the market will try to reach the support channel of 1.3880. How much of the probability of this scenario will likely be shown by a comprehensive analysis.
Fig. 2 (weekly chart).
Complex analysis:
- indicator analysis - down;
- Fibonacci levels - neutral;
- volumes - down;
- candle analysis - neutral;
- trend analysis - down;
- Bollinger lines - up;
- monthly chart - down.
Conclusion on a complex analysis is a downward movement.
According to the weekly chart, the total result in calculating the candle of the GBP/USD currency pair is likely to have a downward trend with the presence of the first upper shadow of the weekly black candle and the absence of the second lower shadow.
The first target is the support line of 1.3880.
