18.08.202511:42 Forex Analysis & Reviews: GBP/USD. Technical Analysis for the Week of August 18–23

Trend Analysis.

This week, from the level of 1.3553 (the close of the last weekly candle), the price may start moving downward toward 1.3389 – the 23.6% retracement level (red dashed line). Upon testing this level, the price may rebound upward toward 1.3444 – the 13-period EMA (thin yellow line).

Fig. 1 (weekly chart).

Comprehensive Analysis:

• indicator analysis – downward;
• Fibonacci levels – downward;
• volumes – downward;
• candlestick analysis – downward;
• trend analysis – downward;
• Bollinger Bands – downward;
• monthly chart – downward.

Conclusion based on comprehensive analysis: downward movement.

Overall result of the weekly candlestick projection for GBP/USD: the price will most likely show a downward trend, with the weekly black candle lacking an initial upper shadow (Monday – downward) and forming a second lower shadow (Friday – upward).

Alternative scenario: From the level of 1.3553 (the close of the last weekly candle), the price may start moving downward toward 1.3270 – the historical support level (blue dashed line). Upon reaching this level, the price may then move upward toward 1.3355 – the 21-period EMA (thin black line).