Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
Trend-following analysis
This week, from 1.2542, the closing level of the last weekly candle, GBP/USD may continue to move upward with a target of 1.2665, the retracement level of 61.8% plotted by the yellow dotted line. Once this level is reached, the price will most likely continue to move upward with a target of 1.2690, a retracement level of 23.6% plotted by the blue dotted line.
Complex analysis
Indicator analysis – up
Fibonacci levels – up
Trading volume – up
Candlestick analysis – up
Trend-following analysis – down
Bollinger bands – down
One-month chart – up
Conclusion of complex analysis: upward move
The result of evaluating the GBP/USD pair's candlestick on the weekly chart: this week, the instrument will most likely follow an uptrend, suggested by the absence of the first lower shadow of the weekly white candle (Monday - up) and the absence of the second upper shadow (Friday - up).
From 1.2542, the closing level of the last weekly candle, the price may continue to move upward with a target of 1.2665, the retracement level of 61.8% plotted by the yellow dotted line. After this level is reached, the instrument will most likely continue to move upward with a target of 1.2690, a retracement level of 23.6% plotted by the blue dotted line.
According to an alternative scenario, from 1.2542, the closing level of the last weekly candle, GBP/USD may begin to move upward with a target of 1.2665, the retracement level of 61.8% plotted by the yellow dotted line. Once this level is reached, the price may pull back down with a target of 1.2594, the 50% retracement level represented by the yellow dotted line.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
