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GBP SEK Technical Analysis - GBP SEK Trading: 2023-07-19
GBP/SEK Technical Analysis Summary
Above 13.2127
Buy Stop
Below 13.3818
Stop Loss
| Indicator | Signal |
| RSI | Buy |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Sell |
| Fractals | Sell |
| Parabolic SAR | Sell |
GBP/SEK Chart Analysis
GBP/SEK Technical Analysis
The GBPSEK technical analysis of the price chart on 4-hour timeframe shows GBPSEK,H4 is falling under the 200-period moving average MA(200) which has tiled dowv itself. The RSI index is oversold zone though. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 13.2127. 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 13.3818. 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/SEK
UK inflation slowed more than expected in June. Will the GBPSEK price retreating persist?
UK consumer inflation slowed much more than expected in June. The Consumer Prices Index rose by 7.9% in the twelve months to June 2023, down from 8.7% in May, when the forecast was 8.2% growth. Steeper than expected slowing of UK inflation is bearish for Pound and hence the GBPSEK pair.
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