Technical analysis for the GBP/USD currency pair for the week from September 30 to October 5

Trend analysis.

This week, the price will move down with the first target of 1.2195 – a pullback level of 61.8% (blue dotted line). If achieved, continue the downward work.

Fig. 1 (weekly chart).

Complex analysis:

– Indicator analysis – down;

– Fibonacci levels – down;

– Volumes – down;

– Technical analysis – down;

– Trend analysis – down;

– Bollinger Bands – down;

– Monthly chart – down.

The conclusion of the complex analysis – a downward movement.

The overall result of calculating the candle of the GBP/USD currency pair according to the weekly chart: the price for weeks will most likely have a downward trend with the absence of the first upper shadow of the weekly black candlestick (Monday – down) and the absence of the second lower shadow (Friday – down).

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

Source:: Technical analysis for the GBP/USD currency pair for the week from September 30 to October 5