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23.07.201909:54 Forex Analysis & Reviews: Technical analysis of GBP / USD currency pair for the week from July 22 to July 27, 2019

Long-term review

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Trend analysis

This week, the price will move down from the first target of 1.2381 on the lower fractal. In case of further downward movement, the target will be 1.234 and the recoil level of 85.4% (yellow dotted line).

Fig. 1 (weekly schedule).

Comprehensive analysis:

- indicator analysis - down;

- Fibonacci levels - down;

- volumes - down;

- candlestick analysis is neutral;

- trend analysis - down;

- Bollinger lines - down;

- monthly schedule - down.

Conclusion on a comprehensive analysis - a downward movement.

The total sum of the total sum of the calculation of the GBP/USD candle on a weekly schedule: the price of the week is likely to have a downward trend with the absence of the first upper shadow from the weekly black candle (Monday - down) and the absence of the second lower shadow (Friday - down).

The price will move down with the first target of 1.2381 on the lower fractal.

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