GBPUSD forecast bearish after declining UK Producer prices inflation
Technical Analysis Summary GBP/USD: Sell
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Sell | |
| Donchian Channel | Neutral | |
| MA(200) | Sell | |
| Fractals | Neutral | |
| Parabolic SAR | Sell |
Chart Analysis
The technical analysis of the GBPUSD price chart on 1-hour timeframe shows GBPUSD: H1 is testing the 200-period moving average MA(200) which is rising still. We believe the bearish movement will continue after the price breaches below the fractal low at 1.2282. 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 1.2338. 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 of -
UK’s producer price fell more than expected in December. Will the GBPUSD price retreat continue?
UK’s producer price fell more than expected in December: the Office for National Statistics reported UK Producer Price Index fell 1.1% over month in December after 0.2% decline in November, when a 0.8% decrease was forecast. This is bearish for GBPUSD.