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19.08.201909:57 Forex Analysis & Reviews: Technical analysis for the GBP/USD currency pair for the week from August 19 to 24, 2019

Long-term review

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Trend analysis.

This week, the price will move down with the first target of 1.1983 – the lower fractal (blue dotted line) and the final target of 1.1735 – the support line (blue bold line).

Fig. 1 (weekly chart).

Complex analysis:

- Indicator analysis – down;

- Fibonacci levels – down;

- Volumes – down;

-Candle analysis – up;

- Trend analysis – down;

- Bollinger bands – down;

- Monthly schedule – down.

The conclusion from the complex analysis is the downward movement.

The overall result of the calculation of the GBP/ USD candle on the weekly chart: the price in the week is likely to have a downward trend with the presence of the first upper shadow of the weekly black candle (Monday – up) and the absence of the second lower shadow (Friday – down).

This week, the price will move down from the first target of 1.1983 – the lower fractal (blue dotted line).

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