25.05.202010:24 Forex Analysis & Reviews: Technical analysis on the GBP/USD pair for the week of May 25-30

Trend analysis.

This week, the price from the level of 1.2161 (closing of the last weekly candle) will move up with the goal of 1.2282 - a pullback level of 14.6% (red dashed line), and in case of testing this level, work up with the next upper goal of 1.2412 - a pullback level of 23.6% (red dotted line). In case of breaking through this level, the next goal of 1.2623 is a pullback level of 38.2% (red dashed line).

Fig. 1 (weekly schedule).

Comprehensive analysis:

- indicator analysis - up;

- Fibonacci levels - up;

- volumes - up;

- candlestick analysis - down;

- trend analysis - neutral;

- Bollinger Lines - down;

- monthly chart - up.

The conclusion of a comprehensive analysis is an upward movement.

The overall result of calculating the candle of the GBP/USD currency pair according to the weekly chart: the price of the week will most likely have an upward trend with the absence of the first lower shadow of the weekly white candlestick (Monday - up) and the presence of the second upper shadow (Friday - down).

The first upper target of 1.2282 - a pullback level of 14.6% (red dashed line).

The weekly upper target of 1.2412 - a pullback level 23.6% (red dashed line).

An unlikely scenario: the price working down with the lower target of 1.1881 - a pullback level of 61.8% (blue dashed line) from the level of 1.2161 (closing the last closed weekly candle).