21.10.201908:04 Forex Analysis & Reviews: Technical analysis for the GBP/USD currency pair for the week from October 21 to 26

Trend analysis.

This week, the price will move up with the first target of 1.3120 – resistance line (black bold line). In the case of achievement, it is possible to roll back down.

Fig. 1 (weekly chart).

Complex analysis:

- Indicator analysis – up;

- Fibonacci levels – up;

- Volumes – up;

- Candlestick analysis – down;

- Trend analysis – up;

- Bollinger Bands – up;

- Monthly chart – up.

The conclusion of the complex analysis – 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 presence of the first lower shadow of the weekly white candlestick (Monday – down) and the absence of the second upper shadow (Friday – up).

The upper target of 1.3120 is the resistance line (black bold line), from which a downward rollback is possible.