Trend analysis
GBP/USD may continue an upward movement this week, starting from the level of 1.3088 (closing of the last weekly candle) to the upper fractal located at 1.3295 (blue dotted line). Upon reaching this price, the pair will resume rising towards the historical resistance level of 1.3475 (blue dotted line).
Fig. 1 (weekly chart)
Comprehensive analysis:
Indicator analysis - upward
Fibonacci levels - upward
Volumes - upward
Candlestick analysis - upward
Trend analysis - upward
Bollinger bands - upward
Monthly chart - upward
Conclusion: All indicators point to an upward movement in GBP/USD.
Overall conclusion: The pair will have a bullish trend, with no first lower shadow on the weekly white candle (Monday - upward) and no second upper shadow (Friday - upward).
So during the week, pound will climb from 1.3088 (closing of the last weekly candle) to the upper fractal at 1.3295 (blue dotted line), and then rise to the historical resistance level of 1.3475 (blue dotted line).
Alternatively, the quote may move up from 1.3088 (closing of the last weekly candle) to the upper fractal at 1.3295 (blue dotted line), followed by a dip to the upper fractal at 1.3141 (red dotted line).
