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GBP/USD Technical Analysis - GBP/USD Trading: 2020-12-23
GBP/USD Technical Analysis Summary
Above 1.3343
Buy Stop
Below 1.3370
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| MA(100) | Sell |
| Fractals | Buy |
| Parabolic SAR | 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 rebounding to test the 100-period moving average MA(100) which is falling. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.3443. 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 1.3370. 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 Forex - GBP/USD
UK’s gross domestic product for the third quarter was upgraded. Will the GBPUSDrebound continue?
UK’s gross domestic product for the third quarter was upgraded: the Q3 GDP was revised upward to 16% over quarter in the final reading from 15.5%, when no change was forecast. This is bullish for GBPUSD.
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