In today’s Asian trading session, the British Pound experienced a downturn against the US Dollar, hovering below the 1.2700 mark. Investors are paying close attention as there are no significant economic data releases scheduled for today from either the UK or the US. This lack of data leaves traders looking for cues from broader market sentiment and international economic indicators.
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Technical analysis
Time Frame: 1 hour
GBPUSD Support & Resistance Table – 17/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.2708 | Daily R2 |
| Resistance 1 | 1.2687 | Daily R1 |
| Support 1 | 1.2633 | Daily S1 |
| Support 2 | 1.2612 | Daily S2 |
GBPUSD Indicator Table – 17/05/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Neutral |
GBPUSD Indicator / Period Table – 17/05/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Buy | Sell | Sell |
| RSI (14) | Buy | Neutral | Neutral |
| SMA 20 | Buy | Buy | Buy |
GBPUSD 17/05/2024 – Reference Price : 1.2659
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (2)Sell (0) |
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