In today’s Asian market session, the British Pound experienced an uptick, surpassing the 1.2500 mark against the US Dollar. This movement occurs on a relatively quiet day on the economic calendar, with both the UK and the US not scheduled to release any major economic data.
The stability in the Pound could be attributed to a variety of factors including market sentiment, recent performances, and speculative positioning ahead of any upcoming political or economic announcements. With no significant data from either economy to potentially sway the markets dramatically, investors might be adjusting their strategies based on other global economic signals or forthcoming financial disclosures.
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Technical analysis
Time Frame: 1 hour
GBPUSD Support & Resistance Table – 29/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.2597 | Daily R2 |
| Resistance 1 | 1.2572 | Daily R1 |
| Support 1 | 1.2502 | Daily S1 |
| Support 2 | 1.2477 | Daily S2 |
GBPUSD Indicator Table – 29/04/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Buy |
GBPUSD Indicator / Period Table – 29/04/2024
| Indicator / Period | Day – Buy | Week – Sell | Month – Sell |
| MACD( 12;26;9) | Buy | Sell | Sell |
| RSI (14) | Buy | Neutral | Neutral |
| SMA 20 | Buy | Sell | Sell |
GBPUSD 29/04/2024 – Reference Price : 1.2535
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (3)Sell (0) |
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