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GBP/USD Technical Analysis - GBP/USD Trading: 2023-07-26
GBP/USD Technical Analysis Summary
Above 1.2904
Buy Stop
Below 1.2811
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
| Fibonacci | Sell |
GBP/USD Chart Analysis
GBP/USD Technical Analysis
The GBPUSD technical analysis of the price chart on 4-hour timeframe shows GBPUSD,H4 is rebounding above the 200-period moving average MA(200) which is rising itself. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.2904. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed above 1.2811. 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 manufacturers sentiment improved in July. Will the GBPUSD price rebounding persist?
Recent UK manufacturers’ sentiment survey showed improving confidence: sentiment among manufacturers improved for the first time in two years, according to the Confederation of British Industry (CBI) quarterly Industrial Trends Survey for July. CBI Industrial Order Expectations index rose to -9 for July from -15 in June when a decline to -17 was expected. Manufacturing output volumes stabilized in the three months to July, having fallen steadily since the February survey, and are expected to grow next quarter. Export optimism for the year ahead rose for the first time since October 2021. Improving UK manufacturers sentiment is bullish for GBPUSD.
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