In today’s Asian trading session, the British Pound experienced a slight uptick against the US Dollar, with rates surpassing the 1.2500 threshold. As the financial markets navigate through the trading day, no significant economic announcements are expected from the United Kingdom. However, all eyes are on the United States as the Consumer Price Index (CPI) data is scheduled for release. This data is crucial as it provides insights into inflation trends, potentially influencing future monetary policy decisions by the Federal Reserve.
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Technical analysis
Time Frame: 1 hour
GBPUSD Support & Resistance Table – 15/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.2633 | Daily R2 |
| Resistance 1 | 1.2617 | Daily R1 |
| Support 1 | 1.2571 | Daily S1 |
| Support 2 | 1.2555 | Daily S2 |
GBPUSD Indicator Table – 15/05/2024
| 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 – 15/05/2024
| 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 15/05/2024 – Reference Price : 1.2596
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (3)Sell (0) |
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