On Friday, the price moved up and closed above the recession level of 14.6% - 1.3241 (yellow dotted line). On Monday, there is no strong news expected and the upward movement may continue.
Trend analysis (Figure 1).
On Monday, it is possible to continue the upward trend towards the target of 1.3360 with a retracement level of 23.6% (yellow dotted line). Indeed, you need to overcome first the upper fractal 1.3313.
Fig. 1 (daily chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- volumes - upwards;
- candle analysis - top;
- trend analysis - up;
- Bollinger lines - up;
- Weekly schedule - up.
General conclusion:
On Monday, the GBP / USD pair has an upward movement with the first target of 1.3360, which is a recoil level of 23.6% (yellow dotted line).
