Trend analysis (Fig. 1).
In March, the bulls might try again to move up with the first target of 1.3405 - a rolling level of 50.0% (blue dashed line).
Fig. 2 (monthly schedule).
Comprehensive analysis:
- indicator analysis - up;
- Fibonacci levels - up;
- volumes - up;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger lines - down;
Conclusion of the complex analysis - possible top.
The overall result of the calculation of the GBP / USD currency pair candle on the monthly chart: the price is likely to have an upward trend with the absence of the first lower shadow (the first week of the month is white) of the monthly white candle and the absence of the second upper shadow (the last week is white). The first upper target of 1.3405 is the rolling 50.0% level (yellow dotted line).
