Trend analysis
This week, the price will move up from the level of 1.2913 (the closing of the last weekly candle) to the pullback level of 50.0% - 1.3077 (blue dotted line). If this level is reached, the upward movement will continue with the goal of a rollback level of 61.8% - 1.3172 (blue dotted line).
Figure 1 (weekly chart).
Complex Analysis:
- Indicator Analysis – up
- Fibonacci levels – up
- Volumes – up
- Candle Analysis – up
- Trend Analysis – up
- Bollinger Bands – up
- Monthly chart – up
The conclusion of the complex analysis is an upward movement.
The overall result of calculating for the the GBP/USD currency pair candle on a weekly chart: the price on the week is likely to have an upward trend with the absence of the first lower shadow of the weekly white candle (Monday - up) and the presence of the second upper shadow (Friday - down).
The first upper target to the pullback level of 50.0% is 1.3077 (blue dotted line). If this level is reached, the upward movement will continue with the goal of a rollback level of 61.8% - 1.3172 (blue dotted line).
Unlikely scenario: from the level of 1.2913 (the closing of the last weekly candle), the price will move up to reach the pullback level of 50.0% - 1.3077 (blue dotted line). If this level is reached, work down to test the support line - 1.2901 (thick white line).
