Trend analysis (Figure 1).
Last week, the price moved up, testing the recession level of 23.6% - 1.3479 (yellow dotted line), rolled back down. Next week, the upward movement will continue. Candlestick analysis also confirms the upper work. The first upper target is 1.3479 - the pullback level is 23.6% (yellow dotted line). How much,the possibility of this scenario is, complex analysis will show.
Fig. 2 (weekly chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- volumes - upwards;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger lines - up;
- monthly graph - up.
Conclusion on the complex analysis- upward movement.
The total result of estimate the candle of the GBP/USD currency pair on a weekly chart: the price for weeks is likely to have an upward trend with the absence of the first lower shadow of a weekly white candle and the absence of a second upper shadow.
The upper target is 1.3478 - the retracement level is 23.6% (yellow dotted line).
