fbGBPUSD Forecast | GBPUSD forecast bearish after CBI expectations miss | IFCM

Technical Analysis GBPUSD : 2021-04-22

Recommendation for GBP/USD:

Strong SellSellNeutralBuyStrong Buy

Below 1.3858

Sell Stop

Above 1.3945

Stop Loss

Expert Avatar
Senior Analytical Expert
Articles 1748
RSI Neutral
MA(200) Buy
Fractals Neutral
Parabolic SAR Sell
Donchian Channel Sell

Chart Analysis

IFC Markets Tech Analysis

The GBPUSD technical analysis of the price chart on 1-hour timeframe shows GBPUSD: H1 is falling toward the 200-period moving average MA(200) which is rising still. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.3858. 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 1.3945. 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

UK’s Confederation of British Industry survey results were worse than expected for April. Will the GBPUSD retreat persist?

UK’s Confederation of British Industry survey results were worse than expected for April: the CBI Industrial Trends Survey showed UK Industrial Order Expectations index fell to -8 for April from -5 in March, when an increase to 2 was forecast. This is bearish for GBPUSD.

Trading signals with a probability of 80% by Autochartist

  • Easy to use
  • Fully automatic
  • Wide range of analytics

The best trading conditions and high-level services for our clients

We are ready to assist you on any issue 24 hours a day.

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.