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GBP/USD Technical Analysis - GBP/USD Trading: 2023-02-17
GBP/USD Technical Analysis Summary
Below 1.1914
Sell Stop
Above 1.1960
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Neutral |
| MA(200) | Sell |
| Fractals | Sell |
| Parabolic SAR | Sell |
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 under the 200-period moving average MA(200) which is declining still. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.1914. 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 1.1960. 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 retail sales volume rose in January. Will the GBPUSD price retreating reverse?
UK’s retail sales volume rose in January: the Office for National Statistics reported retail sales volume rose 0.5% over month in January after 1.2% drop in December, when an 0.3% decrease was forecast. This is bullish for GBPUSD. However the current setup is bearish for the pair.
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