FX.co ★ Technical analysis of the GBP/USD pair for the month of July 2019

Trend analysis

In July, it is possible to move up with the first target of 1.2838, which is the recoiling level of 38.2% (yellow dotted line).

Fig. 1 (monthly schedule).

Indicator analysis:

- indicator analysis - down;

- Fibonacci levels - up;

- volumes - up;

- candlestick analysis - up;

- trend analysis - up;

- Bollinger lines - down;

Conclusion on the complex analysis - the top is possible.

The total result of the calculation of the GBP/USD candle n a monthly schedule: the price is likely to have an upward trend with the absence of the first lower shadow (the first week of the month is white) for the monthly white candle and the absence of the second upper shadow (the last week is white).