fbGBPUSD Forecast | Slower UK producer output prices decline bullish for GBPUSD | IFCM

Technical Analysis GBPUSD : 2020-03-25

Recommendation for GBP/USD:

Strong SellSellNeutralBuyStrong Buy

Above 1.1972

Buy Stop

Below 1.1780

Stop Loss

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Senior Analytical Expert
Articles 1589
RSI Neutral
Donchian Channel Buy
MA(200) Sell
Fractals Buy
Parabolic SAR Buy

Chart Analysis

IFC Markets Tech Analysis

On 1-hour timeframe GBPUSD: H1 is testing the 200-period moving average MA(200) which is falling. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 1.1972. 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 1.1780. 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.

Fundamental Analysis

Britain’s producer price index declined less than expected. Will the GBPUSD continue climbing?

Britain’s producer price index declined less than expected in February: the PPI declined 1.2% in February after 0.3% growth in January, when a 2% drop was expected. This is bullish for GBPUSD.

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