Pound - US Dollar Analysis

Morning Analysis for CFD Instruments 09/11/2018

Fundamental analysis

09 November, 2018

GBP/USD continued to fall on Friday testing this morning its lowest rate in four days (1.30390). The dollar gained versus the British pound on Friday as the U.S. Federal Reserve kept interest rates steady at 2.25% but reaffirmed its monetary tightening stance, setting the stage for a rate hike in December. The Fed has raised its key policy rate three times this year, and the market expects another rate hike in December on the back of a robust U.S. economy, rising inflation and solid jobs growth. Sterling, on the other hand, has gained 2.3% against the dollar in November. The pound has benefited from growing investor expectations that Britain is close to reaching a deal with the European Union, less than five months before it is due to exit the bloc. Later this morning fresh GDP data for quarter three in the UK will be released. Investors will also pay attention to UK’s Manufacturing Production and Trade Balance data for September. Later this afternoon, investors could be expected to turn focus to PPI data for October in the US (13:30 GMT).

Technical analysis

Pound - US Dollar Analysis Technical analysis 09/11/2018
Time Frame: 1 hour

GBPUSD Support & Resistance Table - 09/11/2018

Support & Resistance Level Explanation
Resistance 2 1.3115 Daily R2
Resistance 1 1.3080 Daily R1
Support 1 1.3010 Daily S1
Support 2 1.2980 Daily S2

GBPUSD Indicator Table - 09/11/2018

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

GBPUSD Indicator / Period Table - 09/11/2018

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

GBPUSD 09/11/2018 - Reference Price : 1.3041

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