Daily Time Frame:
MACD = UP
Stochastic = Down
Bollinger Band = Top
Summary: Bullish direction but may retrace each time it reaching the upper line of the bollinger band
Weekly Time Frame:
MACD = UP
Stochastic = UP
Bollinger Band = Top
Summary = A significant bullish indication that might cause the band to break-out upwards direction
Monthly Time Frame:
MACD = UP
Stochastic = Down
Bollinger Band = Middle
Summary = A strong indication that the GBP-USD still have a big room for bullish to dominate. Most possible target 1.6689 in the longer term.
Fibonacci Monthly Time Frame:
- This is the most convincing technical indicators to support all the rest that the bullish trend is initiating for long journey upwards direction. Currently standing at 50% Fibonacci re-tracement the cable pair is poised to target 61.8% and that is almost definite to happen.
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