Trend analysis (Fig. 1)
GBP/USD will try to rise this Friday, from 1.3133 (closing of yesterday's daily candle) to 1.3173, which is the 50.0% retracement level (red dotted line). Then, it could move to the 61.8% retracement level at 1.3201 (red dotted line).
Fig. 1 (daily chart)
comprehensive analysis:
Indicator analysis - uptrend
Fibonacci levels - uptrend
Volumes - uptrend
Candlestick analysis - uptrend
Trend analysis - uptrend
Bollinger bands - uptrend
Weekly chart - uptrend
Conclusion: GBP/USD will move up from 1.3133 (closing of yesterday's daily candle) to the 61.8% retracement level at 1.3173 (red dotted line), then go to 1.3201, which is the 61.8% retracement level (red dotted line).
There is little chance that the pair will drip from 1.3133 (closing of yesterday's daily candle) to the 85.4% retracement level at 1.3042 (yellow dotted line), then bounce back to the 14.6% retracement level at 1.3085 (red dotted line).
