- Analytics
- Technical Analysis
GBP/USD Technical Analysis - GBP/USD Trading: 2024-11-04
GBP/USD Technical Analysis Summary
Above 1.29976
Buy Stop
Below 1.28795
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| MA(200) | Sell |
| Fractals | Neutral |
| Parabolic SAR | Buy |
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 toward the 200-period moving average MA(200) after retracing to ten-week low four days ago. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.29976. 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 1.28795. 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 private sector activity contracted in October. Will the GBPUSD price rebounding persist?
UK private sector activity contracted in October: S&P Global reported UK PMI Composite Output Index fell to 49.9 in October from 51.5 in September and the earlier flash estimate of 50.3. Readings above 50.0 indicate industry expansion, below indicate contraction. UK private sector output contracted for the first time since April. The decline was led by contractions in new orders and stocks of purchases components. Input cost inflation fell to a ten-month low, easing to one of the greatest extents in the 33-year survey history. Selling price inflation also moderated. Contraction of UK private sector is bearish for Pound and GBPUSD pair. However, the current setup is bullish for the pair.
- Get Certificate
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.