GBPUSD forecast bullish after Markit UK services report
Technical Analysis Summary GBP/USD: Buy
| Indicator | VALUE | Signal |
| RSI | Neutrální | |
| MACD | Sell | |
| Donchian Channel | Buy | |
| MA(200) | Buy | |
| Fractals | Buy | |
| Parabolic SAR | Buy |
Chart Analysis
The GBPUSD technical analysis of the price chart on 1-hour timeframe shows GBPUSD: H1 is rebounding above the 200-period moving average MA(200) which is rising itself. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.3946. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 1.3916. After placing the order, the stop loss is to be moved to the next fractal low, 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.
Fundamentální analýza -
UK’s service sector continued to expand in July. Will the GBPUSD continue rebounding?
UK’s service sector continued to expand in July. Markit’s final report showed UK services PMI rose to 59.6 in July instead of flash reading of 57.8. Readings above 50.0 indicate industry expansion, below indicate contraction. This is bullish for GBPUSD.