Trend analysis (Figure 1).
Volumes give the probability of upper work. According to technical analysis, the price for this week may move upwards with the first upper target of 1.3065 - the retracement level of 23.6% (blue dotted line). What is the level of probability that this scenario will be shown in the comprehensive analysis.
Fig. 2 (weekly chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- volumes - upwards;
- candle analysis - neutral;
- trend analysis - up;
- Bollinger lines - up;
- monthly graph - up.
Conclusion on the complex analysis is an upward movement.
The overall result of calculating the candle of the GBP/USD currency pair on a weekly chart shows that the weekly price would likely have an upward trend with the absence of the first lower shadow of a weekly white candle and the absence of a second upper shadow.
The first upper target is 1.3065 - the recoil level is 23.6% (blue dotted line).
* The presented market analysis is informative and does not constitute a guide to the transaction.
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