In today’s Asian trading session, the British Pound saw a decline, trading below the 1.2500 threshold against the US Dollar. This movement comes on a day noticeably quiet in terms of significant economic announcements, with no major data scheduled for release from either the UK or the US.
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Technical analysis
Time Frame: 1 hour
GBPUSD Support & Resistance Table – 08/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.2540 | Daily R2 |
| Resistance 1 | 1.2516 | Daily R1 |
| Support 1 | 1.2454 | Daily S1 |
| Support 2 | 1.2430 | Daily S2 |
GBPUSD Indicator Table – 08/05/2024
| Indicator | Signal |
| SMA 20 | Sell |
| SMA 50 | Sell |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Sell |
| Stochastic ( 9;6;3) | Sell |
GBPUSD Indicator / Period Table – 08/05/2024
| Indicator / Period | Day – Sell | Week – Sell | Month – Sell |
| MACD( 12;26;9) | Buy | Sell | Sell |
| RSI (14) | Sell | Neutral | Neutral |
| SMA 20 | Sell | Sell | Sell |
GBPUSD 08/05/2024 – Reference Price : 1.2485
| SELL | Simple Moving AverageBuy (1)Sell (2)Technical Indicators – OscillatorsBuy (1)Sell (2) |
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