GBP/USD Technical Analysis Summary
Sell Stop:Below 1.3395
Stop Loss:Above 1.3473
GBP/USD Chart Analysis
GBP/USD Technical Analysis
The technical analysis of the GBPUSD price chart on 1-hour timeframe shows GBPUSD: H1 failed to breach above the 200-period moving average MA(200) which is falling itself. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.3395. 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 1.3473. 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 inflation was higher than expected in October. Will the GBPUSD price retreat reverse?
UK’s inflation was higher than expected in October: the Office for National Statistics reported UK inflation rose to 4.3% over year in October from 3.1% in September, when a 3.9% increase was forecast. This is bullish for GBPUSD. However, the current setup is bearish for the pair.