On Monday, there is no expected strong calendar news to be released and the market will work on technical analysis.
Trend analysis (Figure 1).
On Friday, the price moved down, breaking through the recession level of 38.2% - 1.3461 (red dotted line). On Monday, the price can most likely test the pullback level of 50.0% at 1.3180. A complex analysis will more accurately determine where the price will go next.
Fig. 2 (daily chart).
Complex analysis:
- indicator analysis - down;
- Fibonacci levels - down;
- volumes - down;
- candlestick analysis - up;
- trend analysis - down;
- Bollinger lines - down;
- Weekly schedule - down.
General conclusion:
On Monday, the GBP / USD pair will move downward towards the first target of 50.0% with the retracement level of 1.3180.