On Tuesday, the following strong calendar news comes out:
- 14.00 London time. USD, consumer confidence index CB (May). The expected value is 128.2 compared to the previous value of 128.7.
Trend analysis (Figure 1).
On Monday, the price moved in the side channel but could not break the lower fractal at 1.3299 (red dotted line). On Tuesday, the price will most likely breakthrough this level and go down. A complex analysis will more accurately determine where the price will go next.
Fig. 1 (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 Tuesday, the GBP / USD pair will have a downward movement with the first target at 1.3181 with 50.0% retracement level.
