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Technical analysis

30.04.201803:48 Forex Analysis & Reviews: Weekly review from April 30 to May 5, 2018 for a pair of GBP / USD

Long-term review

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Trend analysis (Figure 1).

Last week, the price moved down and reached the support line. In the coming week, the market will try to push off the support line of the upward channel 1.3780. The probability of this scenario will be shown by the comprehensive analysis.

Fig. 2 (weekly chart).

Complex analysis:

- Indicator analysis - up;

- Fibonacci levels - down;

- volumes - upwards;

- candle analysis - neutral;

- trend analysis - up;

- Bollinger lines - down;

- monthly graph - up.

Conclusion on the complex analysis is an upward movement.

The overall result of calculating the candle of the GBP / USD currency pair based on a weekly chart indicates that the weekly price could possibly have an upward trend with the presence of the first lower shadow of the weekly white candle and the presence of the second upper shadow.

The first target is 1.3893 - the recessionary level of 23.6%.

* The presented market analysis is informative and does not constitute a guide to the transaction.

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