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GBP/USD Technical Analysis - GBP/USD Trading: 2022-02-22
GBP/USD Technical Analysis Summary
Below 1.3543
Sell Stop
Above 1.3597
Stop Loss
| Indicator | Signal |
| RSI | Buy |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Sell |
| Fractals | Sell |
| Parabolic SAR | Sell |
GBP/USD Chart Analysis
GBP/USD Technical Analysis
The GBPUSD technical analysis of the price chart on 1-hour timeframe shows GBPUSD: H1 is falling after breaching below the 200-period moving average MA(200) which has leveled off. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.3543. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 1.3597. After placing the order, the stop loss is to be moved to the next fractal high 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 service PMI came in higher for February. Will the GBPUSD price retreat reverse?
UK service PMI came in higher for February: Markit reported UK service PMI rose to 60.8 for February from 54.1 for January, when an increase to 55.6 was expected. This is bullish for GBPUSD. However the current technical setup is bearish for the pair.
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