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This week, the price may start moving downward from 1.2631 (the closing level of the last weekly candle), targeting 1.2540—the 23.6% retracement level (red dashed line). Upon testing this level, the price could reverse upwards toward 1.2689—the upper fractal (red dashed line).
Based on the weekly chart projection, GBP/USD is likely to follow a downward trend, with no initial upper shadow on the weekly black candle (Monday – down) and the presence of a lower shadow on Friday indicating a potential upward retracement.
The price may initially decline from 1.2631 toward 1.2592 (14.6% retracement level, red dashed line). If tested, the price could then initiate an upward movement toward 1.2765—the 50% retracement level (blue dashed line).
¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.
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