{"id":115415,"date":"2017-10-26T09:45:42","date_gmt":"2017-10-26T13:45:42","guid":{"rendered":"http:\/\/countingpips.com\/?p=115415"},"modified":"2018-06-01T15:53:37","modified_gmt":"2018-06-01T15:53:37","slug":"gbpusd-forex-technical-analysis-accelerating-growth-supports-british-pound","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/10\/gbpusd-forex-technical-analysis-accelerating-growth-supports-british-pound\/","title":{"rendered":"GBPUSD: Forex Technical Analysis &#8211; Accelerating growth supports British Pound"},"content":{"rendered":"<div id=\"inves-1429087398\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 26, 2017<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>By <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\" rel=\"noopener\">IFCMarkets<\/a><\/p>\n<p><strong>Accelerating economic growth supports British Pound<\/strong><\/p>\n<p>UK GDP grew 0.4% in Q3, above expected 0.3% rate. Will the <a href=\"https:\/\/www.ifcmarkets.com\/en\/market-data\/forex-prices\/gbpusd\">GBPUSD<\/a> resume strengthening?<\/p>\n<p>UK economy accelerated unexpectedly in the third quarter 2017: Q3 GDP recorded surprise 0.4% growth over quarter when a steady growth of 0.3% was expected. With inflation rising to 3% in September from 2.9% on year in August this raises chances the Bank of England may increase borrowing costs at its November 2 meeting next week.<\/p>\n<p style=\"text-align: center; margin-bottom: 20px; margin-top: 20px;\"><img decoding=\"async\" style=\"float: none;\" src=\"https:\/\/www.ifcmarkets.com\/uploads\/images\/GBPUSD_26Oct2017.png\" alt=\"GBPUSD\" width=\"660px\" \/><\/p>\n<p class=\"emailSummary\">On the daily chart the <b>GBPUSD: D1<\/b> has breached above the 50-day moving average MA(50).<\/p>\n<ul class=\"emailSummary\">\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/parabolic\">Parabolic indicator<\/a> gives a sell signal.<\/li>\n<li>The <b>Donchian channel <\/b> indicates an uptrend, it is tilted up.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/macd\"> MACD indicator <\/a> is below the signal line and the gap is narrowing, which is a bullish signal.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/stochastic\"> stochastic oscillator <\/a> is rising but hasn\u2019t reached the overbought zone.<\/li>\n<\/ul>\n<p>We believe the bullish movement will continue after the price breaches above the upper Donchian boundary at 1.3326. It can be used as an entry point for a pending order to buy. The stop loss can be placed below the fractal low at 1.3087. After placing the pending order the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the probable profit\/loss ratio to the breakeven point. If the price meets the stop-loss level (1.3087) without reaching the order (1.3328) we recommend cancelling the position: the market sustains internal changes which were not taken into account.<\/p><div id=\"inves-250461923\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<h2 class=\"emailSummary\" style=\"margin-top: 15px !important;\">Technical Analysis Summary<\/h2>\n<table style=\"border: solid 1px black;\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Position<\/b><\/td>\n<td align=\"left\" valign=\"top\">Buy<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Buy stop<\/b><\/td>\n<td align=\"left\" valign=\"top\">Above 1.3326<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Stop loss<\/b><\/td>\n<td align=\"left\" valign=\"top\">Below 1.3087<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Market Analysis provided by <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\" rel=\"noopener\">IFCMarkets<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By IFCMarkets Accelerating economic growth supports British Pound UK GDP grew 0.4% in Q3, above expected 0.3% rate. Will the GBPUSD resume strengthening? UK economy accelerated unexpectedly in the third quarter 2017: Q3 GDP recorded surprise 0.4% growth over quarter when a steady growth of 0.3% was expected. With inflation rising to 3% in September [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-115415","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/115415","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=115415"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/115415\/revisions"}],"predecessor-version":[{"id":115429,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/115415\/revisions\/115429"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=115415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=115415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=115415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}