On Tuesday, these are the following strong calendar news:
- 8.30 London time. GBP, the index of business activity in the services sector (May). The expected value is 52.9 compared to the previous value of 52.8;
- 14.00 London time. USD, the index of business activity in the non-manufacturing sector (PMI) from ISM (May). The expected value is 57.9 compared to the previous value of 56.8;
- 14.00 London time. the number of open vacancies in the labor market JOLTS (Apr)). The expected value is 6.490M compared to the previous value of 6.550M.
Trend analysis (Figure 1).
On Monday, the price moved up but could not break through the retracement level of 14.6% at 1.3373 (yellow dotted line) and after that, it went down. On Tuesday, the price will most likely break through this level and go up. A complex analysis will more accurately determine where the price will go next.
Fig. 2 (daily chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- volumes - upwards;
- candle analysis - neutral;
- trend analysis - up;
- Bollinger lines - up;
- Weekly schedule - up.
General conclusion:
On Tuesday, the GBP / USD pair will move upward towards the first goal of 1.33 with the recession rate of 14.6%.