Trend analysis (Figure 1)
On Wednesday, the price moved up in the side channel. On Thursday, the market can make a move up, with the first goal of 1.3952, a retracement level of 38.2%. The complex analysis will more accurately tell where the price will go.
Fig. 1 (daily chart).
Indicator analysis on the daily schedule (Figure 2).
The system of indicators ADX (Figure 2).
On the last run, the fast line (indicator 5 - white) moved upward, and the slow line (indicator period 8 - blue) moved down. In this case, the trend should be determined by trend type indicators.
Indicator MACD (period 5/8/13).
The linear part of the MACD indicator.
The fast line (signal) is the white line.
The slow line (main line) is the blue line.
The result for the linear part of the MACD indicator is an upward trend.
Histogram of the MASD indicator.
Histogram - columns of black color.
The result of the histogram of the MACD indicator is an upward trend.
The overall result: The MACD indicator on the daily chart gives an upward trend.
The middle lines of the EMA.
The daily chart uses the following midlines.
1 middle line of the EMA - the color is white (first shadow).
5 middle line of the EMA - the color is red (the first shadow).
8 middle line of the EMA - the color is blue (the first shadow and trend).
13 middle line of the EMA - the color is yellow (trend).
21 middle line of the EMA - the color is brown (trend).
At the last run, the 8 middle line of the EMA (blue) moved upwards and below the 13 middle line of the EMA (yellow) is the signal of the bottom work.
The 21 middle line of the EMA is moving up and above the 13 middle line of the EMA, amplifies the signals of the bottom work.
The bottom line: The EMA middle line system on the daily chart gives a downward trend.
The probability distribution of the indicators is as follows:
The average EMA lines - 24% down;
The indicator of the MACD (linear part) - 38% up,
The indicator of the MACD (histogram) - 38% up.
The result of the indicator analysis: The price will have an upward trend.
Fig. 2 (daily chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - down;
- Candle analysis - down;
- Trend analysis - up;
- Bollinger lines - down;
- Weekly schedule - down.
General conclusion:
On Thursday, the GBP / USD currency pair may have a downward movement with the first target of 1.3845, the bottom fractal.