Pound - US Dollar Analysis

Morning Analysis for CFD Instruments 08/11/2018

Fundamental analysis

08 November, 2018

GBP/USD remained stable on Thursday, trading above 1.3130, but below its multi- week high of 1.31730 reached yesterday. The dollar traded in a narrow range on Thursday as markets settled after U.S. midterm election results came in as expected, leaving investors free to focus on a Federal Reserve’s policy decision later in the global day. The central bank’s Federal Open Market Committee (FOMC) is expected on Thursday to maintain the hawkish language seen in recent policy statements, while keeping interest rates unchanged this time. The Fed has raised rates three times this year as the U.S. economy boomed and inflation started to pick up, and it has signalled a rate rise in December. The British pound, on the other hand, remained strong as investors continued to bet on an orderly Brexit and all that after latest developments and comments that a deal is close. Later this afternoon US Initial Jobless Claims will be revealed, while tonight (19:00 GMT) US Federal Reserve will announce their latest monetary policy decision.

Technical analysis

Pound - US Dollar Analysis Technical analysis 08/11/2018
Time Frame: 1 hour

GBPUSD Support & Resistance Table - 08/11/2018

Support & Resistance Level Explanation
Resistance 2 1.3200 Daily R2
Resistance 1 1.3160 Daily R1
Support 1 1.3086 Daily S1
Support 2 1.3043 Daily S2

GBPUSD Indicator Table - 08/11/2018

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

GBPUSD Indicator / Period Table - 08/11/2018

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

GBPUSD 08/11/2018 - Reference Price : 1.3125

Sell
Simple Moving AverageBuy (2)Sell (1)
Technical Indicators - OscillatorsBuy (1)Sell (2)
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