Trend analysis.
This week, the price will move up from the first target of 1.2358 – a pullback level of 14.6% (yellow dotted line) and there is a resistance line – 1.2331 (red bold line). Breaking up this cloud is unlikely. From this cloud (1.2358 – 1.2331), you can work down.
Fig. 1 (weekly chart).
Comprehensive analysis:
- Indicator analysis – up;
- Fibonacci levels – up;
- Volume – up;
- Candlestick analysis – up;
- Trend analysis – up;
- Bollinger Bands – up;
- Monthly chart – up.
The conclusion of the comprehensive analysis is an upward movement.
The overall result of calculating the candle of the GBP / USD currency pair according to the weekly chart: the price for weeks is more likely to have an upward trend with the absence of the first lower shadow of the weekly white candlestick (Monday – up) and having a second upper shadow (Friday – down).
This week, the price will move down from the first target of 1.2331 – resistance line (red bold line). From this line, you can work down.
