Weekly review from 10 to 15 September 2018 on the pair GBP/USD

Trend analysis (Figure 1).

Volumes give the probability of upper work. According to technical analysis, the price for this week may move upwards with the first upper target of 1.3065 - the retracement level of 23.6% (blue dotted line). What is the level of probability that this scenario will be shown in the comprehensive analysis.


Fig. 2 (weekly chart).

Complex analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- volumes - upwards;

- candle analysis - neutral;

- trend analysis - up;

- Bollinger lines - up;

- monthly graph - up.

Conclusion on the complex analysis is an upward movement.

The overall result of calculating the candle of the GBP/USD currency pair on a weekly chart shows that the weekly price would likely have an upward trend with the absence of the first lower shadow of a weekly white candle and the absence of a second upper shadow.

The first upper target is 1.3065 - the recoil level is 23.6% (blue dotted line).

* The presented market analysis is informative and does not constitute a guide to the transaction.

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