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Pound - US Dollar Analysis

US Session Analysis for CFD Instruments 06/08/2020

Fundamental analysis

06 August, 2020

The GBP/USD traded firmly higher during the European session with the British Pound moving to its highest level since March, over 1.317. The Bank of England’s Monetary Policy Committee, in a unanimous decision, kept interest rates unchanged at 0.10%, as expected. The UK’s Construction PMI for July was 58.1, that figure was better than analysts’ expectations of 57.0. Pound investors will of course be focused on today’s unemployment data from the United States later today.

Technical analysis

Pound - US Dollar Analysis Technical analysis 06/08/2020
Time Frame: 1 hour

GBPUSD Support & Resistance Table - 06/08/2020

Support & Resistance Level Explanation
Resistance 2 1.3254 Daily R2
Resistance 1 1.3218 Daily R1
Support 1 1.3120 Daily S1
Support 2 1.3083 Daily S2

GBPUSD Indicator Table - 06/08/2020

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 - 06/08/2020

Indicator / Period Day - BuyWeek - BuyMonth - Buy
MACD( 12;26;9) Buy BuySell
RSI (14) Buy BuyNeutral
SMA 20 Buy BuyBuy

GBPUSD 06/08/2020 - Reference Price : 1.3166

Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (3)Sell (0)
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Pound - US Dollar Chart
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