Technical analysis: Will the GBP/USD price retreat continue?

GBP/USD technical analysis summary

Sell Stop: Below 1.3363.

Stop Loss: Above 1.3432.

RSI Neutral
MACD Buy
Donchian Channel Neutral
MA(200) Sell
Fractals Neutral
Parabolic SAR Sell

GBP/USD chart analysis

The technical analysis of the GBPUSD price chart on a 1-hour timeframe shows GBPUSD: H1 has resumed retreating below the 200-period moving average MA(200) which is falling itself. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.3363. 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 1.3432. 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 canceling the order: the market has undergone internal changes which were not taken into account.

Fundamental analysis of forex – GBP/USD

UK’s gross domestic product (GDP) growth slowed in the third quarter. Will the GBPUSD price retreat continue?

UK’s gross domestic product (GDP) growth slowed in the third quarter: the Office for National Statistics reported Q3 UK GDP grew 1.3% over quarter after 5.5% growth in Q2 when a faster growth at 1.5% was forecast. This is bearish for GBPUSD.


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