In today’s Asian market session, the British Pound maintained its position against the US Dollar, consistently hovering around the 1.2600 mark. As the trading day unfolds, no significant economic announcements are expected from the UK, shifting the market’s focus across the Atlantic. Investors are particularly attuned to the United States, where the release of Initial Jobless Claims data is highly anticipated. This report could potentially influence currency fluctuations and trader sentiment.

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Technical analysis

Pound - US Dollar Analysis Technical analysis 16/05/2024

Time Frame: 1 hour

GBPUSD Support & Resistance Table – 16/05/2024

Support & ResistanceLevelExplanation
Resistance 21.2733Daily R2
Resistance 11.2711Daily R1
Support 11.2653Daily S1
Support 21.2631Daily S2

GBPUSD Indicator Table – 16/05/2024

IndicatorSignal
SMA 20Buy
SMA 50Buy
SMA 100Buy
MACD( 12;26;9)Buy
RSI (14)Sell
Stochastic ( 9;6;3)Sell

GBPUSD Indicator / Period Table – 16/05/2024

Indicator / PeriodDay – BuyWeek – BuyMonth – Buy
MACD( 12;26;9)BuySellSell
RSI (14)SellNeutralNeutral
SMA 20BuyBuyBuy

GBPUSD 16/05/2024 – Reference Price : 1.2682

BUYSimple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (1)Sell (2)

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