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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