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Trend analysis.
The price, from the level of 1.2478 (closing of the last weekly candle), is expected to rise this week, with the goal of reaching a pullback level of 61.8% - 1.2597 (red dotted line). If this level is reached, we can continue to work upwards with the target of 1.2703 - resistance line (red bold line). From this line, a downward movement is possible.
Fig. 1 (weekly schedule).
Comprehensive analysis:
- indicator analysis - up;
- Fibonacci levels - up;
- volumes - up;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger Bands - neutral;
- 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 for 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 absence of the second upper shadow (Friday - up).
The first upper goal is to reach the pullback level of 61.8% - 1.2597 (red dashed line). If this level is reached, continue to work upwards with the target 1.2703 - resistance line (red bold line).
An unlikely but possible scenario: when moving up and reaching a pullback level of 50% - 1.2530 (red dashed line), the price will decline, so that the lower fractal - 1.2250 (red dashed line) will be reached.
¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.
