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GBP USD Technical Analysis - GBP USD Trading: 2023-08-25
GBP/USD Technical Analysis Summary
Below 1.2560
Sell Stop
Above 1.2615
Stop Loss
| Indicator | Signal |
| RSI | Buy |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Sell |
| Fractals | Sell |
| Parabolic SAR | Sell |
GBP/USD Chart Analysis
GBP/USD Technical Analysis
The GBPUSD technical analysis of the price chart on 4-hour timeframe shows GBPUSD,H4 is falling under the 200-period moving average MA(200) which is starting to decline. RSI is crossing into oversold zone. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.2560. 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 1.2615. 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 Forex - GBP/USD
UK’s Confederation of British Industry reported retail sales volume decline much higher than expected for August. Will the GBPUSD price retreating persist?
UK’s Confederation of British Industry reported retail sales volume decline accelerated in August: the CBI Realized Sales Index fell to -44 for August from -25 in July, when an increase to -14 was forecast. Readings above 0 indicates higher sales volume, below indicate lower. Retail sales in August fell for a fourth consecutive month at their quickest pace in over two years. Sales are expected to continue to contract next month too, but at a slower pace. This is bearish for GBPUSD.
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