Indicator analysis. The daily review of the currency pair of GBP / USD for May 16, 2018

Trend analysis (Figure 1).

On Tuesday, the price worked in the side channel. On Wednesday, the market with a high probability can continue to move up, with the first target of 1.3584, a pullback level of 14.6% (yellow dotted line). The complex analysis will more accurately tell where the price will go.

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Fig. 2 (daily chart).

Complex analysis:

– Indicator analysis – up;

– Fibonacci levels – up;

– Volumes – upwards;

– Candlestick analysis – up;

– Trend analysis – down;

– Bollinger lines – up;

– Weekly schedule – up.

General conclusion:

On Wednesday, the GBP / USD currency pair may have an upward movement with the first target of 1.3584, a retracement level of 14.6% (yellow dotted line).

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