empty
 
 
20.09.2021 10:45 AM
Technical analysis of the GBP/USD pair from Sept 20-25, 2021

Trend analysis

This week, the price from the level of 1.3733 (closing of the last weekly candle) is expected to rise to the target of 1.3828 – the pullback level of 38.2% (yellow dotted line) after a small downward pullback to the support line of 1.3711 (white thick line). After reaching it, may continue its growth to the target of 1.3877 – the pullback level of 50.0% (yellow dotted line).

This image is no longer relevant

Figure 1 (weekly chart)

Comprehensive analysis:

  • Indicator analysis - up
  • Fibonacci levels - up
  • Volumes - up
  • Candlestick analysis - up
  • Trend analysis - up
  • Bollinger lines - up
  • Monthly chart - up

An upward movement can be concluded based on a comprehensive analysis.

The overall result of the candlestick calculation based on the weekly chart: the price will most likely move in an upward trend, both with the first lower shadow (Monday - down) and with the second upper shadow (Friday - down) in the weekly white candlestick.

The price from the level of 1.3733 (closing of the last weekly candle) will move up to the target of 1.3828 – the pullback level of 38.2% (yellow dotted line) after a small downward pullback to the support line of 1.3711 (white thick line). Once this level is reached, it may further rise to the target of 1.3877 – the pullback level of 50.0% (yellow dotted line).

As an alternative, the price from the level of 1.3733 (closing of the last weekly candle) may fall to the target of 1.3577 – the pullback level of 23.6% (red dotted line). After testing this line, it may rise to the target of 1.3669 – the pullback level of 14.6% (yellow dotted line).

Stefan Doll,
Analytical expert of InstaForex
© 2007-2024
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback