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GBP USD Technical Analysis - GBP USD Trading: 2022-07-26
GBP/USD Technical Analysis Summary
Above 1.1980
Buy Stop
Below 1.2089
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Sell |
| Fractals | Neutral |
| Parabolic SAR | Sell |
| MA(200) | Buy |
GBP/USD Chart Analysis
GBP/USD Technical Analysis
The GBPUSD technical analysis of the price chart on 1-hour timeframe shows GBPUSD: H1 is falling toward the 200-period moving average MA(200) which is rising still. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.1980. 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 1.2089. 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 lower than expected for July. Will the GBPUSD price retreating persist?
UK’s Confederation of British Industry reported retail sales volume decline much lower than expected for July: the CBI Realized Sales Index ticked up to -4 for July from -5 in June, when a decline to -10 was forecast. Readings above 0 indicates higher sales volume, below indicate lower. This is bullish for GBPUSD. However the current setup is bearish for the pair.
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