Trend analysis
GBP/USD will decline this week, starting from the closing of the last weekly candle at 1.1294 to the 38.2% retracement level at 1.1057 (yellow dotted line). After that it will move to the 61.8% retracement level at 1.1549 (dashed blue line), then move upwards to the 76.4% retracement level at 1.1833 (dashed blue line). The quote will resume falling after reaching this level.
Fig. 1 (weekly chart)
Comprehensive analysis:
Indicator analysis - uptrend
Fibonacci levels - uptrend
Volumes - uptrend
Candlestick analysis - uptrend
Trend analysis - uptrend
Bollinger bands - uptrend
Monthly chart - uptrend
All this points to an upward movement in GBP/USD.
Conclusion: The pair will have a bullish trend, with a first lower shadow on the weekly white candle (Monday - down) and no second upper shadow (Friday - up).
So during the week, pound will fall from 1.1294 (the closing of the last weekly candle) to the 38.2% retracement level at 1.1057 (yellow dotted line), then rise to the 61.8% retracement level at 1.1549 (dashed blue line). It will climb further to the 76.4% retracement level at 1.1833 (dashed blue line), then resume going downwards.
Alternatively, quotes could move down from 1.1294 (closing of the last weekly candle) to the 50.0% retracement level at 1.0920 (yellow dotted line), then bounce up to the 50.0% retracement level at 1.1319 (dashed blue line). The pair may continue to rise after testing this level.