In Asian trading, the British Pound maintained stability against the US Dollar, hovering around the 1.2700 levels.
Today, there are no significant economic data releases anticipated from the United Kingdom. Similarly, the United States does not have any major economic announcements scheduled for the day.
Opportunity Insights:
For traders and investors, the stable performance of the British Pound against the US Dollar provides an opportunity to observe market movements and potential trading strategies.
While no major economic data is expected from either the UK or the US today, geopolitical developments and shifts in market sentiment could influence the GBP/USD exchange rate.
Traders may consider monitoring key economic indicators and news events for insights into future currency movements and potential profit opportunities.
Technical analysis
Time Frame: 1 hour
GBPUSD Support & Resistance Table – 18/03/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.2775 | Daily R2 |
| Resistance 1 | 1.2756 | Daily R1 |
| Support 1 | 1.2708 | Daily S1 |
| Support 2 | 1.2689 | Daily S2 |
GBPUSD Indicator Table – 18/03/2024
| Indicator | Signal |
| SMA 20 | Sell |
| SMA 50 | Sell |
| SMA 100 | Buy |
| MACD( 12;26;9) | Sell |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Buy |
GBPUSD Indicator / Period Table – 18/03/2024
| Indicator / Period | Day – Sell | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Sell | Buy | Sell |
| RSI (14) | Buy | Buy | Neutral |
| SMA 20 | Sell | Buy | Buy |
GBPUSD 18/03/2024 – Reference Price : 1.2733
| SELL | Simple Moving AverageBuy (1)Sell (2)Technical Indicators – OscillatorsBuy (2)Sell (1) |
👉Explore AI-powered Automated Trading Today! Register for a free trial now!
✅Read about the automated trading software on Investing.com
