This week, the price from the level of 1.2346 (closing of the last weekly candle) will move up with the target at 1.2499 - a pullback level of 76.4% (red dashed line) and in case of testing this level, work up with the next upper target at 1.2646 - upper fractal (red dashed line ). If this level is tested, it will work down.
Fig. 1 (weekly schedule).
- indicator analysis - up;
- Fibonacci levels - up;
- volumes - up;
- candlestick analysis - down;
- trend analysis - neutral;
- Bollinger Lines - down;
- monthly chart - up.
The conclusion of a comprehensive analysis is an upward movement.
The total result of calculating the candle of the GBP/USD currency pair according to the weekly chart: the price of the week will most likely have an upward trend with the absence of the first lower shadow of the weekly white candlestick (Monday - up) and the absence of the second upper shadow (Friday - up).
The first upper target at 1.2499 - a pullback level of 76.4% (red dashed line)
The weekly upper target at 1.2646 - upper fractal (red dashed line).
An unlikely scenario: the price from the level of 1.2346 (closing the last closed weekly candle) works down with the lower target at 1.2174 - a pullback level of 38.2% (blue dashed line).
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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