FX.co ★ Indicator analysis. The daily review of the currency pair of GBP / USD for May 16, 2018

Trend analysis (Figure 1).

On Tuesday, the price worked in the side channel. On Wednesday, the market with a high probability can continue to move up, with the first target of 1.3584, a pullback level of 14.6% (yellow dotted line). The complex analysis will more accurately tell where the price will go.

Fig. 2 (daily chart).

Complex analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - upwards;

- Candlestick analysis - up;

- Trend analysis - down;

- Bollinger lines - up;

- Weekly schedule - up.

General conclusion:

On Wednesday, the GBP / USD currency pair may have an upward movement with the first target of 1.3584, a retracement level of 14.6% (yellow dotted line).