Trend analysis (Figure 1).
The price in August was moving down, but after testing the support line (red thick line), it went up. In September, it is possible to continue moving upwards, the first goal is the recoil level of 23.6% - 1.3065 (yellow dotted line).
Fig. 2 (monthly chart).
Complex analysis:
- Indicator analysis - down;
- Fibonacci levels - up;
- Volumes - upwards;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger lines - down;
Conclusion on complex analysis is possible upward.
The total result of calculating the candle of the GBP / USD currency pair on a monthly chart: the price is most likely to have an upward trend with the presence of the first lower shadow (the first week of the month is black) in the monthly white candle and the presence of the second upper shadow (last week is black).
The upper target is 1.3065 and the retracement level is 23.6% (yellow dotted line).
