- Analytics
- Technical Analysis
GBP USD Technical Analysis - GBP USD Trading: 2024-08-07
GBP/USD Technical Analysis Summary
Above 1.27254
Buy Stop
Below 1.26797
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| MA(20) | Buy |
| Fractals | Sell |
| Parabolic SAR | Buy |
GBP/USD Chart Analysis
GBP/USD Technical Analysis
The technical analysis of the GBPUSD price chart on 1-hour timeframe shows GBPUSD,H1 is testing the 20-period moving average MA(20) after returning above it. We believe the bearish momentum will reverse after the price breaches above 1.27254. 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 lower bound of Donchian channel at 1.26797. 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’s construction sector activity accelerated in July. Will the GBPUSD price retreating reverse?
UK’s construction sector activity accelerated in July: SP Global reported UK Construction PMI rose to 55.3 in July from 52.2 in June, when an increase to 52.5 was forecast. Readings above 50.0 indicate industry expansion, below indicate contraction. All three categories of construction recorded activity increases in July: housing projects; commercial activity and civil engineering activity. New orders were the main factor leading to a rise in construction activity as new business expanded for the sixth month. Expanding UK construction activity is bullish for the Pound and GBPUSD pair.
Explore our
Trading Conditions
- Spreads from 0.0 pip
- 30,000+ Trading Instruments
- Instant Execution
Ready to Trade?
Open Account 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.