GBPUSD Analysis: Smaller than forecast UK GDP fall bullish for GBPUSD

May 13, 2020

By IFCMarkets

Smaller than forecast UK GDP fall bullish for GBPUSD

UK gross domestic product’s fall was smaller than forecast: UK GDP fell 2% over quarter in Q1 after no change in last three months of 2019, when a 2.6% drop was expected. This is bullish for GBPUSD.

IndicatorVALUESignal
RSINeutral
MACDBuy
Donchian ChannelNeutral
MA(200)Sell
FractalsBuy
Parabolic SARBuy

 

Summary of technical analysis

OrderBuy
Buy stopAbove 1.2313
Stop lossBelow 1.2257

Market Analysis provided by IFCMarkets