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

Pound - US Dollar Analysis Technical analysis 19/04/2024

Time Frame: 1 hour

GBPUSD Support & Resistance Table – 19/04/2024

Support & ResistanceLevelExplanation
Resistance 21.2464Daily R2
Resistance 11.2441Daily R1
Support 11.2381Daily S1
Support 21.2358Daily S2

GBPUSD Indicator Table – 19/04/2024

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

GBPUSD Indicator / Period Table – 19/04/2024

Indicator / PeriodDay – SellWeek – SellMonth – Sell
MACD( 12;26;9)SellSellSell
RSI (14)SellSellSell
SMA 20SellSellSell

GBPUSD 19/04/2024 – Reference Price : 1.2410

SELLSimple Moving AverageBuy (0)Sell (3)Technical Indicators – OscillatorsBuy (1)Sell (2)

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