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).

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