For Traders

Analytical Reviews

Technical analysis

29.10.201815:27 Forex Analysis & Reviews: Weekly review for the GBP / USD currency pair from October 29 to November 3, 2018

Long-term review

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 (Fig. 1).

On the weekly chart, the price will move down with the target of 1.2746, the support line (red thick line).

Fig. 2 (weekly schedule).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - neutral;

- Volumes - up;

- Candlestick analysis - down;

- Trend analysis - down;

- Bollinger lines - down;

- Monthly schedule - down.

The conclusion of the complex analysis - downward movement.

The total result of the calculation of the candle of the GBP / USD currency pair on a weekly schedule: the price of the week is likely to have a downward trend with the absence of the first upper shadow of the weekly black candle and the absence of the second lower shadow.

The lower target is 1.2746, support line (red thick line).

Back to the list

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.