In the latest developments from the Asian trading sessions, the British Pound experienced a downturn against the US Dollar, positioning itself beneath the 1.2700 threshold. This movement reflects the ongoing fluctuations in the forex market, offering investors a glimpse into the currency pair’s dynamic nature.
On the economic front, the United Kingdom’s schedule remains clear with no major data announcements expected for the day. Conversely, the focus shifts towards the United States, where critical labor market updates, including the Nonfarm Payrolls and Unemployment Rate figures, are slated for release. These indicators are highly regarded for their potential to influence market sentiment and monetary policy decisions, thereby affecting currency valuations.
Technical analysis
Time Frame: 1 hour
GBPUSD Support & Resistance Table – 05/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.2661 | Daily R2 |
| Resistance 1 | 1.2644 | Daily R1 |
| Support 1 | 1.2598 | Daily S1 |
| Support 2 | 1.2581 | Daily S2 |
GBPUSD Indicator Table – 05/04/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Sell |
| MACD( 12;26;9) | Buy |
| RSI (14) | Sell |
| Stochastic ( 9;6;3) | Sell |
GBPUSD Indicator / Period Table – 05/04/2024
| Indicator / Period | Day – Buy | Week – Sell | Month – Sell |
| MACD( 12;26;9) | Buy | Buy | Sell |
| RSI (14) | Sell | Neutral | Neutral |
| SMA 20 | Buy | Sell | Sell |
GBPUSD 05/04/2024 – Reference Price : 1.2622
| BUY | Simple Moving AverageBuy (2)Sell (1)Technical Indicators – OscillatorsBuy (1)Sell (2) |
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