GBP/USD technical analysis summary

Sell Stop: Below 1.3523.

Stop Loss: Above 1.3564.

Indicator Signal
RSI Buy
MACD Sell
Donchian Channel Sell
MA(200) Sell
Fractals Sell
Parabolic SAR Sell

 

GBP/USD chart analysis

GBPUSD

The GBPUSD technical analysis of the price chart on 1-hour timeframe shows GBPUSD: H1 is falling under the 200-period moving average MA(200) which is tilted downward itself. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.3523. 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 1.3564. 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 manufacturing PMI flash reading was worse than expected for January. Will the GBPUSD price retreat continue?

UK manufacturing PMI flash reading was worse than expected for January: Markit reported UK manufacturing PMI flash reading came in at 56.9 for January after 57.9 for December, when a reading of 57.7 was expected. This is bearish for GBPUSD.


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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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