On Friday, the following strong calendar news comes out:
- 8.30 London time. GBP, GDP (y / y) (1 sq.), The expected value is 1.4% compared to the previous value of 1.4%;
- 8.30 London time. GBP, GDP (q / q) (1 sq.), The expected value is 0.3% compared to the previous value of 0.4%;
- 8.30 London time. USD, GDP (q / q) (1 sq.), The expected value is 2.9% compared to the previous value of 2.9%;
- 14.30 London time. GBP, Speech by the Head of the Bank of England Karni.
Trend analysis (Figure 1).
On Thursday, the price continued to move downward, reaching the support line of the uptrend. On Friday, an upward movement is possible. A complex analysis will more accurately determine where the price will go next.
Fig. 2 (daily chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - down;
- volumes - upwards;
- candlestick analysis - up;
- trend analysis - down;
- Bollinger lines - down;
- Weekly schedule - down.
General conclusion:
On Friday, it is possible to move up towards the first target of 1.3964 with the retracement level of 14.6%).