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

Pound - US Dollar Analysis Technical analysis 05/04/2024

Time Frame: 1 hour

GBPUSD Support & Resistance Table – 05/04/2024

Support & ResistanceLevelExplanation
Resistance 21.2661Daily R2
Resistance 11.2644Daily R1
Support 11.2598Daily S1
Support 21.2581Daily S2

GBPUSD Indicator Table – 05/04/2024

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

GBPUSD Indicator / Period Table – 05/04/2024

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

GBPUSD 05/04/2024 – Reference Price : 1.2622

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

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