GBPUSD forecast bullish as UK house prices increase in March
Technical Analysis Summary GBP/USD: Buy
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Buy | |
| Donchian Channel | Sell | |
| MA(200) | Buy | |
| Fractals | Sell | |
| Parabolic SAR | Buy |
Chart Analysis
The GBPUSD technical analysis of the price chart on 4-hour timeframe shows GBPUSD,H4 has retraced up after testing the 200-period moving average MA(200) which is rising itself. We believe the bullish momentum will resume after the price breaches above the upper bound of the Donchian channel at 1.2734. 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 1.2681. After placing the order, the stop loss is to be moved to the next fractal low, following Parabolic indicator 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 home prices rose again in March. Will the GBPUSD price retreating continue?
UK home sellers increased their asking prices for houses a third month in a row: Rightmove House Price Index (HPI) indicated the average price of a property put up for sale rose 1.5% to £368,118 in March after 1.1% increase in February. Gains were recorded across all UK regions including London. The typical asking price has risen by £13,000 since December though average asking prices are still £4,776 below their May 2023 peak. The rise detected this month was the biggest increase recorded by Rightmove for ten months. Rising UK houses prices is bullish for the Pound and GBPUSD pair.