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Trend analysis
This week, GBP/USD may continue moving upward from the level of 1.2694 (closing price of the last weekly candle) to the resistance line at 1.2895 (thick blue line). Upon testing this price, it may turn around and fall to the 61.8% retracement level of 1.2746 (red dashed line).
Fig. 1 (weekly chart)
Comprehensive analysis:
Indicator analysis - upward
Fibonacci levels - upward
Volumes - upward
Candlestick analysis - upward
Trend analysis - upward
Bollinger bands - upward
Monthly chart - upward
Conclusion: The indicators point to an upward movement in GBP/USD.
Overall conclusion: The pair will have a bullish trend, with no first lower shadow on the weekly white candle (Tuesday - upward) and no second upper shadow (Friday - upward).
So during the week, pound will rise from 1.2694 (closing price of the last weekly candle) to the resistance line at 1.2895 (thick blue line), and then turn around and decline to the 61.8% retracement level of 1.2746 (red dashed line).
Alternatively, it could climb from 1.2694 (closing price of the last weekly candle) to the upper fractal at 1.2793 (weekly candle from December 10, 2023), followed by a downward movement to the 61.8% retracement level of 1.2746 (red dashed line).
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
