- Analytics
- Technical Analysis
GBP USD Technical Analysis - GBP USD Trading: 2024-08-23
GBP/USD Technical Analysis Summary
Above 1.31121
Buy Stop
Below 1.30855
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Buy |
| MA(200) | Buy |
| Fractals | Neutral |
| Parabolic SAR | Buy |
GBP/USD Chart Analysis
GBP/USD Technical 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) after retracing to two-day low yesterday. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.31121. 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 1.30855. After placing the order, the stop loss is to be moved to the next fractal low 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 private sector activity expansion accelerated in August. Will the GBPUSD price rebounding persist?
UK private sector activity expansion accelerated in August: S&P Global reported UK PMI Composite Output Index rose to 53.4 in August from 52.8 in July. Readings above 50.0 indicates industry expansion, below indicate contraction. UK private sector output expansion was the fastest since April. It was supported by a robust upturn in new order intakes. And the rate of employment growth the fastest since June 2023. Accelerating expansion of UK private sector is bullish for Pound and GBPUSD pair.
Explore our
Trading Conditions
- Spreads from 0.0 pip
- 30,000+ Trading Instruments
- Instant Execution
Ready to Trade?
Open Account Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.