GBPUSD forecast bearish despite UK retail sales increase
Technical Analysis Summary GBP/USD: Sell
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Sell | |
| Donchian Channel | Neutral | |
| MA(200) | Buy | |
| Fractals | Neutral | |
| Parabolic SAR | Sell |
Chart Analysis
The GBPUSD technical analysis of the price chart on 1-hour timeframe shows GBPUSD: H1 is consolidating above the 200-period moving average MA(200) which is rising itself. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.2436. 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 1.2496. After placing the order, the stop loss is to be moved to the next fractal high, 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 -
UK retail sales rose in April. Will the GBPUSD price rebound continue?
UK retail sales rose in April: the Office for National Statistics reported UK retail sales rose 1.4% over month in April after 1.2% decline in March, when a 0.3% decrease was expected. This is bullish for GBPUSD. However the current setup is bearish for the pair.