FX.co ★ Technical analysis for the week of January 20-25 for the GBP/USD currency pair

Trend analysis.

This week, the price strayed from the support line of 1.3027 (the white bold line) and it will move up with the target of 1.3223 - the resistance line (black bold line). In case of a breakout, continue working up with the target of 1.3283 - the upper fractal.

Fig. 1 (weekly chart).

Complex analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candle analysis - up;

- Trend analysis - up;

- Bollinger Bands - up;

- Monthly chart - up.

The conclusion of the complex analysis - an upward movement.

The overall result of calculating the candle of the GBP/USD currency pair according to the weekly chart: the price of the week is likely to have an upward trend with the absence of the first lower shadow of the weekly white candlestick (Monday - up) and the presence of the second upper shadow (Friday - down).

An unlikely but possible scenario: from the support line of 1.3010 (the white bold line), work down with the first target of 1.2904 - the lower fractal.