On Friday, the following strong calendar news comes out:
- 8.30 London time. GBP, GDP (q / q) (1 sq.). The expected value is 0.1% compared to the previous value of 0.1%;
- 8.30 London time. GBP, GDP (y / y) (1 sq.). The expected value is 1.2% compared to the previous value of 1.2%;
- 12.30 London time. USD, basic orders for durable goods (m / m) (Apr). The expected value is 0.5% compared to the previous value of -0.1%;
- 13.20 London time. GBP, speech of the head of the Bank of England Karni;
- 13.20 London time. USD, the speech of the head of the Fed, Mr. Powell.
Trend analysis (Figure 1).
On Thursday, the price moved up after reaching the lower fractal at 1.3299 (red dotted line). On Friday, the price will most likely retest the bottom fractal of 1.3299 and only then it is possible to move up. A complex analysis will more accurately determine where the price will go next.
Fig. 2 (daily chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - down;
- volumes - down;
- candlestick analysis - up;
- trend analysis - down;
- Bollinger lines - up;
- Weekly schedule - down.
General conclusion:
On Friday, the GBP / USD pair will move down with the first target of 1.3299 (lower fractal) and then, maybe it will move up.
