- Analytics
- Technical Analysis
GBP USD Technical Analysis - GBP USD Trading: 2022-08-04
GBP/USD Technical Analysis Summary
Above 1.2193
Buy Stop
Below 1.2127
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Buy |
| MA(200) | Buy |
| Fractals | Neutral |
| Parabolic SAR | Buy |
GBP/USD Chart Analysis
GBP/USD Technical Analysis
The technical analysis of the GBPUSD price chart on 1-hour timeframe shows GBPUSD: H1 is rising above the 200-period moving average MA(200) after testing it while the MA(200) is rising itself. We believe the bullish movement will continue after the price breaches above upper Donchian boundary at 1.2193. 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 1.2127. After placing the order, the stop loss is to be moved to the next fractal low 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 construction sector activity contracted in July. Will the GBPUSD price rebound continue?
UK’s construction sector activity slowed in July: Markit reported UK Construction PMI declined to 48.9 in July from 52.6 in June, when a decline to 52.0 was forecast. Readings above 50.0 indicates industry expansion, below indicate contraction. This is bearish for GBPUSD. However, the current setup is bullish for the pair.
- Get Certificate
Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.