In today’s Asian trading session, the British Pound experienced a downturn, moving below the 1.2500 mark against the US Dollar. This movement comes as traders anticipate the release of key economic data from the UK, specifically Retail Sales figures, which are expected later today. This data could significantly impact the Pound’s valuation depending on the reported consumer spending trends in the UK.
Meanwhile, the economic calendar in the United States remains clear with no major data releases scheduled for today. This lack of US data shifts the market focus primarily towards British economic indicators, which could drive currency volatility depending on the outcomes.
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Technical analysis
Time Frame: 1 hour
GBPUSD Support & Resistance Table – 19/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.2464 | Daily R2 |
| Resistance 1 | 1.2441 | Daily R1 |
| Support 1 | 1.2381 | Daily S1 |
| Support 2 | 1.2358 | Daily S2 |
GBPUSD Indicator Table – 19/04/2024
| Indicator | Signal |
| SMA 20 | Sell |
| SMA 50 | Sell |
| SMA 100 | Sell |
| MACD( 12;26;9) | Sell |
| RSI (14) | Sell |
| Stochastic ( 9;6;3) | Buy |
GBPUSD Indicator / Period Table – 19/04/2024
| Indicator / Period | Day – Sell | Week – Sell | Month – Sell |
| MACD( 12;26;9) | Sell | Sell | Sell |
| RSI (14) | Sell | Sell | Sell |
| SMA 20 | Sell | Sell | Sell |
GBPUSD 19/04/2024 – Reference Price : 1.2410
| SELL | Simple Moving AverageBuy (0)Sell (3)Technical Indicators – OscillatorsBuy (1)Sell (2) |
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