CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing all your money. Read full risk warning.

Pound - US Dollar Analysis

US Session Analysis for CFD Instruments 16/03/2021

Fundamental analysis

16 March, 2021

The GBP/USD traded lower on Tuesday, around the 1.3868 mark, despite the fact that the dollar is trading lower against a basket of other currencies. The GBP has began to fall after it was reported that the European Union launched legal action against the UK over its alleged violation of the Brexit divorce deal on trading arrangements with Northern Ireland. Bank of England Governor Bailey who held a speech earlier in the session did not make much impact on Sterling.

Technical analysis

Pound - US Dollar Analysis Technical analysis 16/03/2021
Time Frame: 1 hour

GBPUSD Support & Resistance Table - 16/03/2021

Support & Resistance Level Explanation
Resistance 2 1.3935 Daily R2
Resistance 1 1.3903 Daily R1
Support 1 1.3818 Daily S1
Support 2 1.3787 Daily S2

GBPUSD Indicator Table - 16/03/2021

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

GBPUSD Indicator / Period Table - 16/03/2021

Indicator / Period Day - SellWeek - BuyMonth - Buy
MACD( 12;26;9) Neutral BuyBuy
RSI (14) Buy BuyBuy
SMA 20 Sell BuyBuy

GBPUSD 16/03/2021 - Reference Price : 1.3867

Sell
Simple Moving AverageBuy (0)Sell (3)
Technical Indicators - OscillatorsBuy (2)Sell (0)
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Pound - US Dollar Chart
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