GBPUSD price forecast bullish after Confederation of British Industry data
Technical Analysis Summary GBP/USD: Buy
| Indicator | Nilai | Signal |
| RSI | Neutral | |
| MACD | Buy | |
| Donchian Channel | Neutral | |
| MA(200) | Sell | |
| Fractals | Buy | |
| Parabolic SAR | Buy |
Chart Analysis
The technical analysis of the GBPUSD price chart on 1-hour timeframe shows GBPUSD,H1 is rising toward the 200-period moving average MA(200) which is declining still. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 1.3692. 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 1.3661. After placing the order, the stop loss is to be moved to the next fractal low 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 -
UK’s Confederation of British Industry survey results were better than expected for September. Will the GBPUSD price rebound persist?
UK’s Confederation of British Industry survey results were better than expected for September: the CBI Industrial Trends Survey showed UK Industrial Order Expectations index rose to 22 for September from 18 in August, when a fall to 15 was forecast. This is bullish for GBPUSD.