In today’s trading session within the Asian markets, the British Pound exhibited a slight decrease in strength against the US Dollar, positioning itself under the 1.2700 mark. This subtle movement provides a nuanced perspective on the current dynamics between two of the world’s leading currencies.
For today, both the United Kingdom and the United States have a clear schedule with no significant economic announcements expected. This pause in economic data releases offers a day of trading influenced more by market sentiment and technical analysis rather than fresh statistical insights.
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Technical analysis
Time Frame: 1 hour
GBPUSD Support & Resistance Table – 08/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.2678 | Daily R2 |
| Resistance 1 | 1.2657 | Daily R1 |
| Support 1 | 1.2599 | Daily S1 |
| Support 2 | 1.2578 | Daily S2 |
GBPUSD Indicator Table – 08/04/2024
| Indicator | Signal |
| SMA 20 | Sell |
| SMA 50 | Buy |
| SMA 100 | Sell |
| MACD( 12;26;9) | Buy |
| RSI (14) | Neutral |
| Stochastic ( 9;6;3) | Buy |
GBPUSD Indicator / Period Table – 08/04/2024
| Indicator / Period | Day – Buy | Week – Sell | Month – Sell |
| MACD( 12;26;9) | Buy | Buy | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| SMA 20 | Sell | Sell | Sell |
GBPUSD 08/04/2024 – Reference Price : 1.2627
| BUY | Simple Moving AverageBuy (1)Sell (2)Technical Indicators – OscillatorsBuy (2)Sell (1) |
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