GBPUSD forecast bearish on slowing UK construction
Technical Analysis Summary GBP/USD: Sell
| Indicator | Value | Signal |
| RSI | Buy | |
| MACD | Sell | |
| MA(200) | Sell | |
| Fractals | Neutral | |
| Parabolic SAR | Sell |
Chart Analysis
The technical analysis of the GBPUSD price chart on 1-hour timeframe shows GBPUSD: H1 is falling under the 200-period moving average MA(200) which is falling itself. We believe the bearish movement will continue after the price breaches below 1.1874. 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 1.1987. 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’s construction sector activity slowed in June. Will the GBPUSD price decline continue?
UK’s construction sector activity slowed in June: Markit reported UK Construction PMI declined to 52.6 in June from 56.4 in May, when a decline to 54.9 was forecast. Readings above 50.0 indicates industry expansion, below indicate contraction. This is bearish for GBPUSD.