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GBP USD Technical Analysis - GBP USD Trading: 2020-07-22
GBP/USD Technical Analysis Summary
Above 1.2766
Buy Stop
Below 1.2646
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Buy |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Sell |
GBP/USD Chart Analysis
GBP/USD Technical Analysis
On 4-hour timeframe GBPUSD: H4 is rising above the 200-period moving average MA(200) which is rising. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 1.2766. 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 1.2646. 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 of Forex - GBP/USD
United Kingdom’s economic data have been improving in recent weeks. Will the GBPUSD advance continue?
United Kingdom’s economic data have been improving in recent weeks: balance of trade rose in May, consumer inflation picked up in June, unemployment remained unchanged for May. Thus, balance of trade surplus rose to 4.3 billion Pounds from 2.3 billion in April when a deficit of 0.8 billion was expected. Consumer inflation ticked up to 0.6% over year in June when a decline to 0.4% was expected. And UK unemployment rate remained unchanged at 3.9% for May when an increase to 4.2% was forecast. Improving UK data are bullish for GBPUSD.
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