Indicator analysis. The daily review of the currency pair GBP / USD for May 23, 2018

On Wednesday, the following strong calendar news comes out:

- 09.30 London time. GBP, consumer price index (CPI) (y / y) (Apr), waiting for 2.5%, the previous value was 2.5%;

- 15.00 London time. USD, sales of new housing (Apr), waiting for 680K, the previous value was 694K;

- 15.30 London time. USD, stocks of crude oil, are waiting for -1.567M, the previous value was -1.404M;

- 19.00 London time. USD, the publication of the FOMC protocols.

Trend analysis (Figure 1).

On Tuesday, the price worked in the side channel. On Wednesday, the market can continue to move down, with the first goal of 1.3299, the bottom fractal (red dotted line). The complex analysis will more accurately tell where the price will go.

gbpusd-d1-instaforex-group-5.png

Fig. 2 (daily chart).

Complex analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candle analysis - neutral;

- Trend analysis - down;

- Bollinger lines - up;

- Weekly schedule - down.

General conclusion:

On Wednesday, on the GBP / USD pair, the downward movement with the first target of 1.3299 is the bottom fractal (red dotted line).

The material has been provided by InstaForex Company - www.instaforex.com