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GBP SEK Technical Analysis - GBP SEK Trading: 2023-04-24
GBP/SEK Technical Analysis Summary
Below 12,76
Sell Stop
Above 13,06
Stop Loss
| Indicator | Signal |
| RSI | Sell |
| MACD | Sell |
| MA(200) | Neutral |
| Parabolic SAR | Sell |
| Bollinger Bands | Neutral |
GBP/SEK Chart Analysis
GBP/SEK Technical Analysis
On the daily timeframe, GBPSEK: D1 failed to overcome the upper limit of the neutral price channel. It tries to move towards the lower border. A number of technical analysis indicators formed signals for further decline. We do not rule out a bearish movement if GBPSEK drops below the latest low and lower fractal: 12.76. This level can be used as an entry point. Initial risk limit possible above the last 2 up fractals and the Parabolic signal: 13.06. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. After making a trade, the most cautious traders can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (13.06) without activating the order (12.76), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Forex - GBP/SEK
In this review, we propose to consider the British Pound to the Swedish Krona currency pair. A decline on the chart means a weakening pound and a strengthening krone. Will GBPSEK quotes go down?
The next meeting of Sveriges Riksbank will take place on April 26, 2023. Investors do not rule out an increase in the rate to 3.5% from its current level of 3%. This could be a positive factor for the crown. On Wednesday, data on the Swedish labor market will also be published. The day before, on April 25, the Sweden Producer Price Index will be released. Sweden Gross Domestic Product will be released on April 27th and Retail Sales on April 28th. All these economic indicators can affect the exchange rate of the Swedish krona. In turn, in Britain this week not too important economic data will be published. Theoretically, the Pound chickens may come under pressure from relatively weak statistics released last week. UK Unemployment, Retail Sales and inflation (CPI) were worse than expected.
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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.
