Pound - US Dollar Analysis

Evening Analysis for CFD Instruments 06/12/2018

Fundamental analysis

06 December, 2018

GBP/USD was trading up 0.13% on Thursday to test a session high of 1.27573. Earlier today, the US dollar rose after the arrest in Canada of a top executive of Chinese tech giant Huawei prompted fears of a flare-up in U.S.-China trade tensions. The Us dollar, however, remained under pressure by worrisome signs in U.S. bond markets about economic growth and signals from the Federal Reserve that a slowdown in the pace of interest rate hikes may be coming. In UK, British Prime Minister Theresa May on Thursday urged lawmakers to back her agreement to leave the European Union, May has repeatedly warned that if lawmakers reject her deal with Brussels, which would see Britain exit the EU on March 29 with continued close ties, the only alternatives are leaving without a deal or reversing Brexit. Later this afternoon, the US dollar should be expected to come under volatile pressure due to several economic data releases. In fact, this afternoon, ADP Nonfarm Employment Change for November, Initial Jobless Claims, Trade Balance and ISM Non- Manufacturing PMI will be released in the US.

Technical analysis

Pound - US Dollar Analysis Technical analysis 06/12/2018
Time Frame: 1 hour

GBPUSD Support & Resistance Table - 06/12/2018

Support & Resistance Level Explanation
Resistance 2 1.2827 Daily R2
Resistance 1 1.2790 Daily R1
Support 1 1.2700 Daily S1
Support 2 1.2670 Daily S2

GBPUSD Indicator Table - 06/12/2018

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

GBPUSD Indicator / Period Table - 06/12/2018

Indicator / Period Day - BuyWeek - SellMonth - Sell
MACD( 12;26;9) Sell SellSell
RSI (14) Neutral SellSell
SMA 20 Buy SellSell

GBPUSD 06/12/2018 - Reference Price : 1.2745

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (1)Sell (1)
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