empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

25.07.202210:32 Forex Analysis & Reviews: Technical analysis of GBP/USD for July 25-30, 2022

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Trend analysis

GBP/USD will continue rising this week, starting from 1.2003 (the closing of the last weekly candle) to the resistance line at 1.2105 (white thick line). After that it will move to the 23.6% retracement level at 1.2226 (red dotted line), then go to the 38.2% retracement level at 1.2517 (red dotted line). Price is likely to decrease after these movements.

Exchange Rates 25.07.2022 analysis

Fig. 1 (weekly chart)

Comprehensive analysis:

Indicator analysis - uptrend

Fibonacci levels - uptrend

Volumes - uptrend

Candlestick analysis - uptrend

Trend analysis - uptrend

Bollinger bands - uptrend

Monthly chart - uptrend

All this points to an upward movement in GBP/USD.

Conclusion: The pair will have an upward trend, with no first lower shadow on the weekly white candle (Monday - up) and no second upper shadow (Friday - up).

During the week, pound will increase from 1.2003 (the closing of the last weekly candle) to the resistance line at 1.2105 (white thick line), move to the 23.6% retracement level at 1.2226 (red dotted line), then go to the 38.2% retracement level at 1.2517 (red dotted line). Price is likely to decrease after these movements.

Alternatively, the quote could climb from 1.1863 (closing of the last weekly candle) to the resistance line at 1.2105 (white thick line), then move down to the 161.8% retracement level at 1.1837 (dashed blue line). Upon reaching it, pound will go up to the 14.6% retracement level at 1.2049 (red dotted line).

Stefan Doll
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off