{"id":133270,"date":"2018-09-06T10:20:14","date_gmt":"2018-09-06T14:20:14","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=133270"},"modified":"2018-09-06T06:42:34","modified_gmt":"2018-09-06T10:42:34","slug":"gbpusd-forex-technical-analysis-uk-services-sector-car-sales-bullish-for-gbpusd","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/09\/gbpusd-forex-technical-analysis-uk-services-sector-car-sales-bullish-for-gbpusd\/","title":{"rendered":"GBPUSD Forex Technical Analysis &#8211; UK services sector, car sales bullish for GBPUSD"},"content":{"rendered":"<div id=\"inves-1168081204\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">September 6, 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>Accelerating UK services sector and car sales bullish for GBPUSD<\/strong><\/p>\n<blockquote><p>UK services sector expansion accelerated and car sales rose in August. Will the <a href=\"https:\/\/www.ifcmarkets.com\/en\/trading-conditions\/forex\/gbpusd\"> GBPUSD <\/a> continue rising?<\/p><\/blockquote>\n<p>Recent UK economic data were positive. Markit\u2019s Markit\u2019s Services PMI rose from 53.5 to 54.3 in August, and new car sales in August jumped to 23.1% over the same period a year ago. Improved data followed reports that expansion in manufacturing and construction sectors slowed. Expanding services activities and sharp rise in car sales are bullish for GBPUSD.<\/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_O_06Sept2018.png\" alt=\"GBPUSD Technical Analysis IFC Markets\" width=\"660px\" \/><\/p>\n<p class=\"emailSummary\">On the daily timeframe <b>GBPUSD: D1 <\/b> had been trading with negative bias after hitting twenty-six-month high in mid-April. The price has remained above the resistance line turned into support after testing it.<\/p>\n<ul class=\"emailSummary\">\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/parabolic\">Parabolic indicator<\/a> has formed a sell signal.<\/li>\n<li>The <b>Donchian channel <\/b> indicates uptrend: it tilted up.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/macd\"> MACD indicator <\/a> is below the signal line with the gap narrowing. This is a bullish signal.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/stochastic\"> stochastic oscillator <\/a> is rising but has not reached the overbought zone.<\/li>\n<\/ul>\n<p>We believe a bullish momentum will continue after the price breaches above the upper Donchian boundary at 1.3042. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below the lower Donchian channel at 1.2785. 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 (1.2785) without reaching the order (1.3042) 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 1.3042<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Stop loss<\/b><\/td>\n<td align=\"left\" valign=\"top\">Below 1.2785<\/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-3481707003\" 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","protected":false},"excerpt":{"rendered":"<p>By IFCMarkets Accelerating UK services sector and car sales bullish for GBPUSD UK services sector expansion accelerated and car sales rose in August. Will the GBPUSD continue rising? Recent UK economic data were positive. Markit\u2019s Markit\u2019s Services PMI rose from 53.5 to 54.3 in August, and new car sales in August jumped to 23.1% over [&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-133270","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133270","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=133270"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133270\/revisions"}],"predecessor-version":[{"id":133289,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133270\/revisions\/133289"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=133270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=133270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=133270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}