14.10.201908:17 Forex Analysis & Reviews: Technical analysis for the GBP/USD currency pair for the week from October 14 to 19

Trend analysis.

This week, the price will move up with the first target of 1.2836 – a pullback level of 61.8% (yellow dotted line). In the case of achievement, it is possible to roll back down.

Fig. 1 (weekly chart).

Complex analysis:

- Indicator analysis – up;

- Fibonacci levels – up;

- Volumes – up;

- Technical analysis – down;

- Trend analysis – up;

- Bollinger Bands – down;

- Monthly chart – up.

The conclusion of the complex analysis – an upward movement.

The total result of calculating the candle of the GBP / USD currency pair according to the weekly chart: the price for weeks is more likely to have an upward trend with the absence of the first lower shadow of the weekly white candlestick (Monday – up) and the absence of the second upper shadow (Friday – up).

The upper target of 1.2836 is a pullback level of 61.8% (yellow dotted line), from which a pullback down is possible.