Trend analysis (Figure 1).
On the weekly chart this week, the price of technical analysis will once again try to break through the resistance line of the rising channel of 1.3212 (white fat line). How much the probability of this scenario is likely will be shown by a comprehensive analysis.
Fig. 2 (weekly chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - down;
- Candle analysis - down;
- Trend analysis - down;
- Bollinger lines - up;
- monthly graph - up.
Conclusion on the complex analysis is an upward movement.
The total result of the GBP / USD currency pair candlestick calculation by the weekly chart: the price for the week is likely to have an upward trend with the presence of the first lower shadow of the weekly white candle and the absence of the second upper shadow.
The first upper target is the rising channel resistance line of 1.3212 (white bold line).
The material has been provided by InstaForex Company -
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