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).
– 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