Pound - US Dollar Analysis

US Session Analysis for CFD Instruments 24/10/2024

Fundamental analysis

24 October, 2024

During European trading, the British Pound increased against the US Dollar trading below 1.3000 levels.

The Pound Sterling gained against its major peers in Thursday’s London session after a mixed release of economic data earlier in the session. In the UK, Services PMI data for October came in below expectations at 51.8 vs 52.3 exp. In the United States, Initial Jobless Claims figures (243k exp) will be revealed (13:30 GMT+1), Global Manufacturing and Services PMI data for October (47.5 and 55.0 respectively expected) will be posted (14:45 GMT+1) and New Homes Sales for September data will be released (15:00 GMT+1).

Technical analysis

Time Frame: 1 hour

GBPUSD Support & Resistance Table - 24/10/2024

Support & Resistance	Level	Explanation
Resistance 2	1.3017	Daily R2
Resistance 1	1.2996	Daily R1
Support 1	1.2942	Daily S1
Support 2	1.2921	Daily S2

GBPUSD Indicator Table - 24/10/2024

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

GBPUSD Indicator / Period Table - 24/10/2024

Indicator / Period	Day - Sell	Week - Sell	Month - Buy
MACD( 12;26;9)	Sell	Buy	Buy
RSI (14)	Neutral	Neutral	Neutral
SMA 20	Sell	Sell	Buy

GBPUSD 24/10/2024 - Reference Price : 1.2970

Sell

Simple Moving Average	Buy (0)	Sell (3)
Technical Indicators - Oscillators	Buy (1)	Sell (1)

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