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Indicator analysis. Monthly review of the pair GBP/USD for May 2019

Trend analysis (Fig. 1).

In April, the bulls may try to move up again with the first target 1.3175 – 21 average EMA (black thin line).


Fig. 2 (monthly schedule).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - neutral;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger lines - down;

The conclusion on the complex analysis - the upper is possible.

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) of the monthly white candle and the absence of the second upper shadow (the last week is white). The first upper target is 1.3175 – 21 middle EMA (black thin line).

The material has been provided by InstaForex Company -