Indicator analysis. Daily review for May 16, 2019 for the GBP / USD pair

Trend analysis (Fig. 1).

On Thursday, technical analysis demonstrates an upward movement. The first upper target of 1.2877 is the pullback level of 14.6% (yellow dotted line).

Fig. 1 (daily schedule).

Comprehensive analysis:

– indicator analysis – up;

– Fibonacci levels – up;

– volumes – down;

– candlestick analysis – up;

– trend analysis – down;

– Bollinger lines – down;

– weekly schedule – down.

General conclusion:

On Thursday, technical analysis demonstrates an upward movement. The first upper target of 1.2877 is the pullback level of 14.6% (yellow dotted line).

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Indicator analysis. Daily review for May 16, 2019 for the GBP / USD pair

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