On Wednesday, the following strong calendar news comes out:
- 14.30 London time. USD, stocks of crude oil. The expected value is -1.824M compared to the previous value of -3.629M.
Trend analysis (Figure 1).
On Tuesday, the price moved upward, breaking the recession level of 14.6% at 1.3373 (yellow dotted line), after which, it rushed upwards. On Wednesday, the price will most likely storm the next pullback level of 23.6% at 1.3479. A complex analysis will more accurately determine where the price will go next.
Fig. 2 (daily chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- volumes - upwards;
- candle analysis - neutral;
- trend analysis - up;
- Bollinger lines - up;
- Weekly schedule - up.
General conclusion:
On Wednesday, the GBP / USD pair will have an upward movement towards the first goal at 1.3479 with a recession rate of 23.6%.
The material has been provided by InstaForex Company - www.instaforex.com