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GBP/USD Technical Analysis - GBP/USD Trading: 2022-09-14
GBP/USD Technical Analysis Summary
Above 1.1571
Buy Stop
Below 1.1479
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Buy |
| MA(200) | Buy |
| Fractals | Neutral |
| Parabolic SAR | Buy |
GBP/USD Chart Analysis
GBP/USD Technical Analysis
The technical analysis of the GBPUSD price chart on 1-hour timeframe shows GBPUSD: H1 breached above the 200-period moving average MA(200) which is leveling off. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 1.1571. 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 1.1479. After placing the order, the stop loss is to be moved to the next fractal low 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 inflation was not as high as expected in August. Will the GBPUSD price retreat resume?
UK’s inflation was not as high as expected in August: the Office for National Statistics reported UK inflation ticked down to 9.9% over year in August from 10.1% in July, when a decline to 10.0% was forecast. This is bearish for GBPUSD. However, the current setup is bullish for the pair.
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