Weekly review from October 8 to 13 2018 for the GBP/USD pair
October 8, 2018 7:22 am
Trend analysis (Fig. 1).
On the weekly chart, the price will move up with the first target of 1.3154-21 average EMA (black thin line). The second scenario is unlikely, but it is a move down to reach the support line of 1.2971 (white thin line) and only then upward movement.
Fig. 2 (weekly schedule).
Comprehensive analysis:
– indicator analysis – up;
– Fibonacci levels – neutral;
– volumes – up;
– candlestick analysis – up;
– trend analysis – up;
– Bollinger lines – down;
– monthly schedule – up.
The conclusion of the complex analysis is an upward movement.
The overall result of the calculation of the candles of the GBP/USD currency pair on the weekly chart: the price of the week is likely to have an upward trend with the absence of the first lower shadow of the weekly white candle and the absence of the second upper shadow.
The first upper target is 1.3154 – 21 average EMA (thin black line) and further upwards. The second scenario is unlikely, but this is a downward movement to reach the support line of 1.2971 (a white thin line) and only then an upward movement.
The material has been provided by InstaForex Company – www.instaforex.com
Trend analysis (Fig. 1).
On the weekly chart, the price will move up with the first target of 1.3154-21 average EMA (black thin line). The second scenario is unlikely, but it is a move down to reach the support line of 1.2971 (white thin line) and only then upward movement.
Fig. 2 (weekly schedule).
Comprehensive analysis:
– indicator analysis – up;
– Fibonacci levels – neutral;
– volumes – up;
– candlestick analysis – up;
– trend analysis – up;
– Bollinger lines – down;
– monthly schedule – up.
The conclusion of the complex analysis is an upward movement.
The overall result of the calculation of the candles of the GBP/USD currency pair on the weekly chart: the price of the week is likely to have an upward trend with the absence of the first lower shadow of the weekly white candle and the absence of the second upper shadow.
The first upper target is 1.3154 – 21 average EMA (thin black line) and further upwards. The second scenario is unlikely, but this is a downward movement to reach the support line of 1.2971 (a white thin line) and only then an upward movement.
The material has been provided by InstaForex Company – www.instaforex.com
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