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Technical Analysis GBPUSD : 2021-06-10

Recommendation for GBP/USD:

Buy
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Strong SellSellNeutralBuyStrong Buy

Above 1.4154

Buy Stop

Below 1.4072

Stop Loss

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Senior Analytical Expert
Articles 1820
IndicatorValueSignal
RSI Neutral
MACD Buy
Donchian Channel Buy
MA(200) Sell
Fractals Neutral
Parabolic SAR Buy

Chart Analysis

IFC Markets Tech Analysis

The GBPUSD technical analysis of the price chart on 1-hour timeframe shows GBPUSD: H1 is rebounding to test the 200-period moving average MA(200) which is declining. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.4154. 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 1.4072. After placing the order, the stop loss is to be moved to the next fractal low, following Parabolic indicator 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

Number of real estate surveyors that reported price increases in UK in their areas rose in May. Will the GBPUSD retreat continue?

More real estate surveyors than forecast reported price increases in UK in their areas: 83 per cent of respondents reported an increase in UK house prices in May after 76% reported increases in April according to RICS House Price Balance survey, when a 77% of respondents were expected to report increases. This is bullish for GBPUSD.

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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.