Trend analysis (Figure 1).
Last week, the price moved down and reached the support line. In the coming week, the market will try to push off the support line of the upward channel 1.3485. The probability of this scenario would likely be shown by the comprehensive analysis.
Fig. 2 (weekly chart).
Complex analysis:
- indicator analysis - down;
- Fibonacci levels - down;
- volumes - down;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger lines - down;
- monthly graph - up.
Conclusion on the complex analysis.
The overall result of calculating the GBP / USD currency pair on a weekly chart presents the weekly price is expected to have an upward trend with the presence of the first lower shadow of the weekly white candle and the presence of the second upper shadow.
The first target is 1.3812 - the rolling level is 23.6% (red dotted line).
