- Analytics
- Technical Analysis
GBP USD Technical Analysis - GBP USD Trading: 2023-10-23
GBP/USD Technical Analysis Summary
Below 1.2089
Sell Stop
Above 1.2336
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| MA(200) | Sell |
| Fractals | Neutral |
| Parabolic SAR | Sell |
GBP/USD Chart Analysis
GBP/USD Technical Analysis
The GBPUSD technical analysis of the price chart on daily timeframe shows GBPUSD,Daily is falling under the 200-period moving average MA(200) after rebounding to test the MA(200). We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.2089. 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 1.2336. 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
Fundamental Analysis of Forex - GBP/USD
UK’s retail sales volume fell in September. Will the GBPUSD price retreating continue?
UK’s retail sales volume fell in September: the Office for National Statistics reported retail sales volume fell 0.9% over month in September after 0.4% growth in August, when an 0.3% decrease was forecast. Retail sales contracted against the background of continuing consumer inflation even though wages are now outpacing inflation. This is bearish for GBPUSD.
- 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.