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Weekly review from 10 to 15 September 2018 on the pair GBP/USD
September 10, 2018 8:23 amVideo
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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
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