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Trend analysis
GBP/USD may resume its upward movement this week, starting from the level of 1.2834 (closing of the last weekly candle) to the upper border of the Bollinger lines indicator at 1.2933 (black dotted line). Upon reaching this price, the pair may continue rising towards the upper fractal at 1.3005 (red dotted 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: All indicators point to an upward movement in GBP/USD.
Overall conclusion: The pair will have a bullish trend, with a first lower shadow on the weekly white candle (Monday - upward) and no second upper shadow (Friday - upward).
So during the week, pound will rise from 1.2834 (closing of the last weekly candle) to the upper border of the Bollinger lines indicator at 1.2933 (black dotted line), and then continue towards the upper fractal at 1.3005 (red dotted line).
Alternatively, the quote may move up from 1.2834 (closing of the last weekly candle) to the upper border of the Bollinger lines indicator at 1.2933 (black dotted line), followed by a decline.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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