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10.07.202309:04 Forex Analysis & Reviews: Technical analysis of GBP/USD for July 10-15, 2023

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).

Exchange Rates 10.07.2023 analysis

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.

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Stefan Doll,
Analytical expert of InstaSpot
© 2007-2024
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