In the latest developments from the Asian trading session, the British Pound saw a slight increase over the US Dollar, positioning itself above the 1.2600 mark.

Looking ahead, the focus shifts towards the United Kingdom as it is scheduled to reveal its Services Purchasing Managers’ Index (PMI) data. Concurrently, the United States is poised to announce its Initial Jobless Claims statistics. These economic indicators are crucial for investors as they provide insight into the service sector’s performance in the UK and employment trends in the US, respectively. Such information is instrumental in shaping market sentiment and influencing currency valuation.

This illustrates not only the dynamic interplay between significant economic announcements and their impact on the forex market but also highlights the transformative potential of AI in financial investments. For the lay investor, this revelation offers a clearer pathway to grasping market movements and the opportunities they present for substantial economic gains.

Technical analysis

Pound - US Dollar Analysis Technical analysis 04/04/2024

Time Frame: 1 hour

GBPUSD Support & Resistance Table – 04/04/2024

Support & ResistanceLevelExplanation
Resistance 21.2700Daily R2
Resistance 11.2681Daily R1
Support 11.2633Daily S1
Support 21.2614Daily S2

GBPUSD Indicator Table – 04/04/2024

IndicatorSignal
SMA 20Buy
SMA 50Buy
SMA 100Sell
MACD( 12;26;9)Neutral
RSI (14)Buy
Stochastic ( 9;6;3)Buy

GBPUSD Indicator / Period Table – 04/04/2024

Indicator / PeriodDay – BuyWeek – SellMonth – Sell
MACD( 12;26;9)NeutralBuySell
RSI (14)BuyNeutralNeutral
SMA 20BuySellSell

GBPUSD 04/04/2024 – Reference Price : 1.2657

BUYSimple Moving AverageBuy (2)Sell (1)Technical Indicators – OscillatorsBuy (2)Sell (0)

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