Trend Analysis:
This week, the price may initially move downward from 1.2921 (last week's closing price) toward 1.2820, which corresponds to the 14.6% retracement level (red dashed line). After testing this level, the price may resume its upward movement, targeting 1.3117, which aligns with the 76.4% retracement level (blue dashed line).
Comprehensive Analysis:
Indicator Analysis – UpFibonacci Levels – UpVolume Analysis – UpCandlestick Patterns – UpTrend Analysis – UpBollinger Bands – UpMonthly Chart – UpConclusion: The overall market outlook is bullish.
Projected Weekly Candle Formation for GBP/USD:
The pair is expected to follow a bullish trend, forming a white weekly candle with an initial lower shadow on Monday (downward movement) and a final upper shadow on Friday (downward retracement).
Alternative Scenario:
If the pair moves downward from 1.2921 (last week's closing price), it may reach 1.2743 (the 23.6% retracement level, red dashed line). Upon testing this level, the price may resume its upward movement toward 1.3117, which aligns with the 76.4% retracement level (blue dashed line).