In today’s Asian trading session, the British Pound faltered against the robust US Dollar, dipping below the 1.2600 threshold. This market movement comes at a time when the UK’s economic calendar remains empty, offering no new data to potentially bolster the Pound’s stance. Meanwhile, market participants are keenly awaiting the release of the US Consumer Confidence index, a significant indicator that could influence the currency pair further. This key metric is watched closely as it sheds light on the economic optimism of American consumers, which can affect consumer spending and, subsequently, broader economic health. Notably, individuals leveraging AI-driven investment tools have successfully anticipated these market shifts, achieving a remarkable 34% Return on Investment in just the last 24 hours. For an in-depth understanding of how this AI technology can empower investors, visit here.
Technical analysis
Time Frame: 1 hour
GBPUSD Support & Resistance Table – 30/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.2587 | Daily R2 |
| Resistance 1 | 1.2563 | Daily R1 |
| Support 1 | 1.2499 | Daily S1 |
| Support 2 | 1.2475 | Daily S2 |
GBPUSD Indicator Table – 30/04/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Sell |
| Stochastic ( 9;6;3) | Sell |
GBPUSD Indicator / Period Table – 30/04/2024
| Indicator / Period | Day – Buy | Week – Sell | Month – Sell |
| MACD( 12;26;9) | Buy | Sell | Sell |
| RSI (14) | Sell | Neutral | Neutral |
| SMA 20 | Buy | Sell | Sell |
GBPUSD 30/04/2024 – Reference Price : 1.2530
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (1)Sell (2) |
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