- Analytics
- Technical Analysis
GBP/USD Technical Analysis - GBP/USD Trading: 2023-08-07
GBP/USD Technical Analysis Summary
Below 1.2619
Sell Stop
Above 1.2804
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Sell |
| Parabolic SAR | Sell |
GBP/USD Chart Analysis
GBP/USD Technical Analysis
The technical analysis of the GBPUSD price chart on daily timeframe shows GBPUSD,Daily is retracing down toward the 200-period moving average MA(200) which is rising still. We believe the bearish momentum will continue after the price breaches below the lower Donchian boundary at 1.2619. 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 1.2804. 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 construction sector activity expanded in July. Will the GBPUSD price retreating reverse?
UK’s construction sector activity resumed expanding in July: SP Global reported UK Construction PMI rose to 51.7 in July from 48.9 in June, when a decline to 48.1 was forecast. Readings above 50.0 indicate industry expansion, below indicate contraction. renewed expansion of overall construction output, following the marginal decline seen during the previous month. This was led by the strongest rise in commercial building since February which offset another sharp reduction in residential construction activity. This is bullish for GBPUSD. However, the current setup is bearish for the pair.
Explore our
Trading Conditions
- Spreads from 0.0 pip
- 30,000+ Trading Instruments
- Stop Out Level - Only 10%
Ready to Trade?
Open Account 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.