In today’s Asian trading session, the British Pound experienced a slight decrease against the US Dollar, positioning itself under the 1.2600 threshold. Today holds significant weight for market watchers as the UK is scheduled to announce its GDP figures for the first quarter of 2024. This release is eagerly anticipated, as it provides critical insight into the economic health of the region during a period of global economic recalibrations. Meanwhile, the US economic calendar remains clear with no major announcements expected today. Notably, individuals utilizing advanced AI technology for market predictions have reported remarkable success, with a 34% return on investment in just the last 24 hours by capitalizing on such economic insights. Discover how this AI tool has transformed market forecasting.
Technical analysis
Time Frame: 1 hour
GBPUSD Support & Resistance Table – 10/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.2565 | Daily R2 |
| Resistance 1 | 1.2543 | Daily R1 |
| Support 1 | 1.2487 | Daily S1 |
| Support 2 | 1.2465 | Daily S2 |
GBPUSD Indicator Table – 10/05/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Sell |
| RSI (14) | Neutral |
| Stochastic ( 9;6;3) | Sell |
GBPUSD Indicator / Period Table – 10/05/2024
| Indicator / Period | Day – Buy | Week – Sell | Month – Sell |
| MACD( 12;26;9) | Sell | Sell | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| SMA 20 | Buy | Sell | Sell |
GBPUSD 10/05/2024 – Reference Price : 1.2515
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (0)Sell (2) |
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