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GBP/USD Technical Analysis - GBP/USD Trading: 2021-06-23
GBP/USD Technical Analysis Summary
Above 1.3986
Buy Stop
Below 1.3922
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| MA(200) | Sell |
| Fractals | Buy |
| Parabolic SAR | Buy |
GBP/USD Chart Analysis
GBP/USD Technical Analysis
The GBPUSD technical analysis of the price chart on 1-hour timeframe shows GBPUSD: H1 is rebounding to test the 200-period moving average MA(200) which is falling still. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.3986. 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 1.3922. After placing the order, the stop loss is to be moved to the next fractal low, 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 manufacturing output continued to expand in June. Will the GBPUSD continue rebounding?
UK’s manufacturing output continued to expand in June. Markit reported UK Manufacturing PMI declined to 64.2 in June from 65.6 in May when a decline to 64.1 was expected. Readings above 50.0 indicate industry expansion, below indicate contraction. This is bullish for GBPUSD.
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