Indicator analysis. Monthly review of GBP/USD for April 2019

Trend analysis (Fig. 1).

In April, it is possible that the bulls will again try to move up with the first target of 1.3175 – a pullback level of 38.2% (blue dotted line).

t6UZZjxJ_t04aGgRiz6jF26sLnCOsrM0jrRyX_kp

Fig. 2 (monthly schedule).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger lines - down;

Conclusion of the complex analysis - possible top.

The overall result of the calculation of the GBP/USD currency pair candle on the monthly chart: the price is likely to have an upward trend with the absence of the first lower shadow (the first week of the month is white) for the monthly white candle and the absence of the second upper shadow (the last week is white) The first upper target 1.3405 is a pullback level of 50.0% (yellow dotted line).

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