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GBP/USD Technical Analysis - GBP/USD Trading: 2021-06-09

GBP/USD Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 1.4188

Buy Stop

Below 1.4146

Stop Loss

Ara Zohrabian
Senior Analytical Expert
Articles 1868
IndicatorValueSignal
RSI Neutral
MACD Buy
Donchian Channel Buy
MA(200) Buy
Fractals Buy
Parabolic SAR Buy

GBP/USD Chart Analysis

GBP/USD Chart Analysis

GBP/USD Technical Analysis

The GBPUSD technical analysis of the price chart on 1-hour timeframe shows GBPUSD: H1 has rebounded above the 200-period moving average MA(200) which is declining. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 1.4188. 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 1.4146. 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 retail sales slowed more than expected in May. Will the GBPUSD rebound continue?

UK retail sales slowed more than expected in May: British Retail Consortium (BRC) reported retail sales rose 18.5% over year in May after 39.6% growth in April, when a 29.5% increase was forecast. This is bearish for GBPUSD. However, technical setup is bullish for GBPUSD.

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