FX.co ★ Daily review of GBP / USD pair for May 7, 2018

Trend analysis (Figure 1).

On Friday, the price continues to move downward, reaching the support line of the uptrend. On Monday, 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 - up;

- volumes - upwards;

- candlestick analysis - up;

- trend analysis - up;

- Bollinger lines - up;

- Weekly schedule - down.

General conclusion:

On Monday, it is possible to move up towards the first target of 1.3694 with the recoil level of 23.6% (red dotted line).