On Wednesday, the following strong calendar news comes out:
- 14.00 London time, USD, crude oil reserves; The expected value is -2.043M compared to the previous value of -1.071M.
Trend analysis (Figure 1)
On Tuesday, the price worked out the top. On Wednesday, there is a high probability for the market to stop the downward movement (touching the lower boundary of the indicator of the Bollinger line 1.3884). A complex analysis will more accurately determine where the price will go next.
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 Wednesday, the GBP / USD pair will have a downward movement with the first target 1.3918 as the bottom fractal.
