- Analytics
- Technical Analysis
GBP USD Technical Analysis - GBP USD Trading: 2020-11-11
GBP/USD Technical Analysis Summary
Above 1.3287
Buy Stop
Below 1.2853
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Neutral |
| Parabolic SAR | Buy |
GBP/USD Chart Analysis
GBP/USD Technical Analysis
On daily timeframe GBPUSD: Daily is rising above the 200-period moving average MA(200) which is flat. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 1.3287. 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 1.2853. 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 claimant count fell in October. Will the GBPUSD rebound continue?
Recent United Kingdom economic data signal positive development in labor market after the Bank of England voted to expand its bond purchases by £150 billion to £895 billion while keeping interest rates at 0.1% at its November 5 meeting. Though the unemployment rate rose to above expected 4.8% for September from 4.5% in prior month, the 3-month moving average of earnings ending in September compared to the same period a year earlier rose 1.3% after 0.1% increase in the previous trimester ending in August. And more importantly the number of people claiming unemployment-related benefits during the previous month fell by 29.8 thousand in October when an increase of 20.3 thousand was expected. It signals improving labor market conditions which will positively affect overall economic health trough expected increases in consumer spending. This is bullish for GBPUSD.
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.