GBPUSD forecast bearish despite falling UK unemployment claims
Technical Analysis Summary GBP/USD: Neutral
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Sell | |
| Donchian Channel | Neutral | |
| Fractals | Neutral | |
| Parabolic SAR | Buy |
Chart Analysis
The GBPUSD technical analysis of the price chart on 1-hour timeframe shows GBPUSD: H1 is breaching the support line. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.4058. 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 1.4097. 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 -
UK claimant count fell again in January. Will the GBPUSD rebound continue?
UK claimant count fell in January: the UK statistics bureau Office for National Statistics reported the claimant count- number of people claiming unemployment-related benefits during the previous month, fell by 20 thousand in January after 20.4 thousand decrease in previous month, when an increase of 13.8 thousand was forecast. This is bullish for GBPUSD. However GBPUSD current setup is bearish.