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Trend analysis.
The price will move upward from the level of 1.2790 (closing of the last weekly candle) this week in order to reach the pullback level of 76.4% - 1.3016 (blue dotted line). If this line is reached, it is possible to work upwards with the target of 1.3109 - the resistance line (black bold line).
Fig. 1 (weekly chart).
Comprehensive analysis:
- indicator analysis - up;
- Fibonacci levels - up;
- volumes - up;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger lines - up;
- monthly chart - up.
The conclusion based on a comprehensive analysis is an upward movement.
The general result of calculating the candlestick 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 absence of the second upper shadow (Friday - up).
The first upper target is the 76.4% pullback level - 1.3016 (blue dotted line). If this line is reached, it is possible to work upwards with the target of 1.3109 - the resistance line (black bold line).
An alternative scenario: from the level of 1.2790 (closing of the last weekly candle), it will move upwards in order to reach the upper fractal - 1.2811 (red dashed line) and then it can likely work downwards with the target at 1.2716 - support line (red bold line).
¡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.
