Trend analysis (Figure 1).
Last week, the price under the pressure of the foundation moved down, testing the support line - 1.3239 (white line) and then rolled back up. Next week, the upward movement will continue. Candlestick analysis also confirms the top performance. The first upper target is 1.3373 - the retracement level is 14.6% (yellow dotted line). How much the probability of this scenario is likely will be shown by a comprehensive analysis.
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 is an upward movement.
The total result of calculating the candle of the GBP/USD currency pair on the weekly chart: the price for the week is likely to have an upward trend with the absence of the first lower shadow of the weekly white candle and the absence of the second upper shadow.
The upper target is 1.3373 - the retracement level is 14.6% (yellow dotted line).
