GBP/USD technical analysis summary
Sell Stop: Below 1.3609.
Stop Loss: bove 1.3651.
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Sell |
| Fractals | Sell |
| Parabolic SAR | Sell |
GBP/USD chart analysis
The technical analysis of the GBPUSD price chart on 1-hour timeframe shows GBPUSD: H1 has breached below the 200-period moving average MA(200) which is rising still. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.3609. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 1.3651. After placing the order, the stop loss is to be moved to the next fractal high indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Forex - GBP/USD
UK’s unemployment rate declined in November. Will the GBPUSD price retreat reverse?
UK’s unemployment rate declined in November: the Office for National Statistics reported UK unemployment rate ticked down to 4.1% in November from 4.2% in October, when a no change was expected. This is bullish for GBPUSD. However, the current setup is bearish for the pair.
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This overview has an informative character and is not financial advice or a recommendation. IFCMarkets. Corp. under any circumstances is not liable for any action taken by someone else after reading this article.
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