GBPUSD forecast bearish after UK retail sales report
Technical Analysis Summary GBP/USD: Sell
| Indicator | Value | Signal |
| RSI | Buy | |
| MACD | Sell | |
| Donchian Channel | Sell | |
| MA(200) | Sell | |
| Fractals | Sell | |
| Parabolic SAR | Sell |
Chart Analysis
The GBPUSD technical analysis of the price chart on 1-hour timeframe shows GBPUSD: H1 has fallen 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 1.3551. 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 1.3600. 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 retail sales fell more than expected in December. Will the GBPUSD price retreat continue?
UK retail sales fell more than expected in December: the Office for National Statistics reported retail sales fell 3..7% over month in December after 1% growth in November, when a 0.6% decrease was forecast. This is bearish for GBPUSD.