{"id":123272,"date":"2018-03-15T09:49:19","date_gmt":"2018-03-15T13:49:19","guid":{"rendered":"http:\/\/countingpips.com\/?p=123272"},"modified":"2018-06-01T15:42:14","modified_gmt":"2018-06-01T15:42:14","slug":"gbpusd-forex-technical-analysis-uk-growth-upgrade-bullish-for-pound","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/03\/gbpusd-forex-technical-analysis-uk-growth-upgrade-bullish-for-pound\/","title":{"rendered":"GBPUSD: Forex Technical Analysis &#8211; UK growth upgrade bullish for Pound"},"content":{"rendered":"<div id=\"inves-3016099966\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">March 15, 2018<\/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>UK growth upgrade bullish for Pound<\/strong><\/p>\n<blockquote><p>2018 GDP upgrade is bullish for Pound. Will the <a href=\"https:\/\/www.ifcmarkets.com\/en\/market-data\/forex-prices\/gbpusd\">GBPUSD<\/a> continue rising?<\/p><\/blockquote>\n<p>The UK economy 2018 growth forecast was upgraded Tuesday. The Office for Budget Responsibility\u2019s forecast for the UK GDP was revised to 1.5% in 2018 compared with a 1.4% estimate released in November. Growth forecasts of 1.3% for 2019 and 2020 were unchanged. Stronger growth is bullish for Pound.<\/p>\n<p style=\"text-align: center; margin-bottom: 20px; margin-top: 20px;\"><img decoding=\"async\" style=\"float: none;\" src=\"https:\/\/ifccd.net\/uploads\/image\/GBPUSD_15March2018.png\" alt=\"GBPUSD\" width=\"660px\" \/><\/p>\n<p class=\"emailSummary\">On the daily chart the <b>GBPUSD: D1<\/b> has been retracing following the rise to 19-month high in the end of January.<\/p>\n<ul class=\"emailSummary\">\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/parabolic\">Parabolic indicator<\/a> gives a buy signal.<\/li>\n<li>The <b>Donchian channel <\/b> signals uptrend, it is tilted up.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/macd\"> MACD indicator <\/a> is above the signal line and the gap is narrowing, which is a bearish signal.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/stochastic\"> stochastic oscillator <\/a> is falling but hasn\u2019t reached the oversold zone.<\/li>\n<\/ul>\n<p>We believe the bullish movement will continue after the price breaches above the upper Donchian boundary at 1.3995. A price above that level can be used as an entry point for a pending order to buy. The stop loss can be placed below the fractal low at 1.3780. 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 (1.3780) without reaching the order (1.3763) we recommend cancelling the order: the market sustains internal changes which were not taken into account.<\/p>\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 1.3995<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Stop loss<\/b><\/td>\n<td align=\"left\" valign=\"top\">Below 1.3780<\/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><div id=\"inves-913256809\" 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<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By IFCMarkets UK growth upgrade bullish for Pound 2018 GDP upgrade is bullish for Pound. Will the GBPUSD continue rising? The UK economy 2018 growth forecast was upgraded Tuesday. The Office for Budget Responsibility\u2019s forecast for the UK GDP was revised to 1.5% in 2018 compared with a 1.4% estimate released in November. Growth forecasts [&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-123272","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/123272","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=123272"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/123272\/revisions"}],"predecessor-version":[{"id":123306,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/123272\/revisions\/123306"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=123272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=123272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=123272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}