In today’s Asian trading session, the British Pound experienced a downturn, falling below the 1.2700 mark against the US Dollar. This movement reflects a cautious stance among traders, given the absence of major economic announcements from both the UK and the US today. The lack of fresh data leaves the currency pair more susceptible to broader market sentiment and international economic currents.
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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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