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Trend analysis:
GBP/USD will probably move upward in June, starting from the closing of the May monthly candle at 1.2437 to the upper limit of the Bollinger Bands indicator at 1.3016 (black dashed line). The pair could shift into a downward movement upon reaching this price.
Fig. 1 (monthly chart)
Comprehensive analysis:
Indicator analysis - uptrend
Fibonacci levels - uptrend
Volumes - downtrend
Candlestick analysis - uptrend
Trend analysis - uptrend
Bollinger bands - uptrend
The indicators show that a bullish scenario will unfold in GBP/USD.
Conclusion: The pair will have an upward trend, with a first lower shadow on the monthly white candle (the first week of the month is black) and no second upper shadow (the last week is white).
So, throughout the month, pound will rise from 1.2437 (closing of the May monthly candle) to the upper limit of the Bollinger Bands indicator at 1.3016 (black dashed line), and then turn around and move downwards.
Alternatively, the quotes could climb from 1.2437 (closing of the May monthly candle) to the 61.8% retracement level at 1.2748 (red dashed line), and then bounce down to the 14.6% retracement level at 1.2336 (yellow 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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