GBP/USD Technical Analysis | GBP/USD Trading: 2020-01-20 | IFCM UAE
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GBP/USD Technical Analysis - GBP/USD Trading: 2020-01-20

GBP/USD Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 1.2961

Buy Stop

Below 1.2971

Stop Loss

Ara Zohrabian
Senior Analytical Expert
Articles 2451
IndicatorSignal
RSI Neutral
MACD Buy
MA(200) Sell
Parabolic SAR Sell
Fractals Sell
Donchian Channel Sell

GBP/USD Chart Analysis

GBP/USD Chart Analysis

GBP/USD Technical Analysis

On the hourly timeframe the GBPUSD: H1 is falling below declining 200-period moving average MA(200).

We believe the bearish momentum will resume after the price breaches below the lower boundary of Donchian channel at 1.2961. 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 1.12971. After placing the order, the stop loss is to be moved to the next fractal high, 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 - "}[/T]

UK retail sales declined 0.3% over month in January instead of an expected 0.5% gain. Will the GBPUSD continue declining?

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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.

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