GBPUSD Live Chart | Pound to Dollar Chart | IFCM
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GBPUSD Live Chart

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Leverage 1:100
Margin 1000
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Status: Closed Trading
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GBP/USD Technical Analysis

The GBPUSD technical analysis of the price chart on 4-hour timeframe shows GBPUSD: H4 is retracing down to test the 200-period moving average MA(200) after hitting three-week high two days ago. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.2528. 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 1.2628. 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’s British Retail Consortium (BRC) reported retail sales volume at same stores declined in April. Will the GBPUSD price retreat?

UK’s British Retail Consortium reported retail sales volume at same stores fell in April: the BRC Retail Sales Monitor index dropped 4.4% over year after 3.2% growth in March, when a 1.8% increase was forecast. Analysts attribute the decline to wet spring weather which deterred shoppers despite businesses offering big discounts in an attempt to entice customers into stores. The April drop was especially disappointing compared with the growth of 5.1% in April 2023. It was also below the three-month average growth of 0.5% and the 12-month average of 2.2%. This is bearish for GBPUSD.

IndicatorSignal
RSI Neutral
MACD Sell
Donchian Channel Sell
MA(200) Buy
Fractals Neutral
Parabolic SAR Sell
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