Trend analysis (Fig. 1)
GBP / USD will try to move up this Thursday, from 1.3347 (closing of yesterday's daily candle) to 1.3376, the upper border of the Bollinger line (black dotted line). Then, it will return to 1.3352, which is the 21 EMA (black thin line).
Fig. 1 (daily chart)
Comprehensive analysis:
Indicator analysis - downtrend
Fibonacci levels - downtrend
Volumes - downtrend
Candlestick analysis - downtrend
Trend analysis - uptrend
Bollinger bands - downtrend
Weekly chart - uptrend
Conclusion: GBP/USD will rise from 1.3347 (closing of yesterday's daily candle) to the upper border of the Bollinger line at 1.3376 (black dotted line), then go back to 1.3352, which is the 21 EMA (black thin line).
Alternatively, the pair could go to the 38.2% retracement level at 1.3422 (yellow dashed line) after moving from 1.3347 (closing of yesterday's daily candle) to the upper border of the Bollinger line at 1.3376 (black dotted line).The material has been provided by InstaForex Company - www.instaforex.com
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