Pound - US Dollar Analysis

Morning Analysis for CFD Instruments 11/01/2019

Fundamental analysis

11 January, 2019

GBP/USD was stable this morning, to trade above 1.2750. The dollar fell versus its major peers on Friday, as investors grew increasingly confident that the U.S. Federal Reserve may hit the pause button on monetary tightening this year. Fed Chairman Jerome Powell reiterated on Thursday the U.S. central bank has the ability to be patient on monetary policy given that inflation remains stable. Markets are now pricing in no further rate hikes by the Fed this year. Fed Vice Chair Richard Clarida also struck a dovish tone, underscoring the central bank’s willingness to remain patient on the issue of raising rates. In UK, Labour leader Jeremy Corbyn has stepped up calls for a general election at the earliest opportunity to break the deadlock over Brexit. In a speech, he said a new government would have a fresh mandate to negotiate a better withdrawal deal with the EU. Mr Corbyn has resisted growing calls from within his own party to get behind another EU referendum, insisting an election is still his top priority if Theresa May's Brexit deal is rejected by MPs next week. Later this morning, UK Manufacturing and Industrial Production for November will be released. Later this afternoon (13:30 GMT), US Inflation data for December will be in the focus of many market participants.

Technical analysis

Pound - US Dollar Analysis Technical analysis 11/01/2019
Time Frame: 1 hour

GBPUSD Support & Resistance Table - 11/01/2019

Support & Resistance Level Explanation
Resistance 2 1.2837 Daily R2
Resistance 1 1.2797 Daily R1
Support 1 1.2717 Daily S1
Support 2 1.2677 Daily S2

GBPUSD Indicator Table - 11/01/2019

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

GBPUSD Indicator / Period Table - 11/01/2019

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

GBPUSD 11/01/2019 - Reference Price : 1.2757

Sell
Simple Moving AverageBuy (0)Sell (3)
Technical Indicators - OscillatorsBuy (1)Sell (2)
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