CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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.
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Pound - US Dollar Analysis

EU Session Analysis for CFD Instruments 16/09/2020

Fundamental analysis

16 September, 2020

The GBP/USD pair moved slightly higher this morning at 1.2899. The British Pound also had its rally cut short by the Greenback on Tuesday, but managed to stay positive on the day. Unlike the Euro, the Pound started the day relatively low. There were several pieces of employment data out of the UK on Tuesday. Claimant Count Change for August rose by 73,700, beating estimates. The Unemployment Rate for July printed at 4.1% as expected. On the Brexit front, the UK Parliament voted to pass a first reading of the controversial “Intermarket Bill.” If that bill becomes law it threatens to scuttle any further trade talks between the UK and EU, which means a very hard final Brexit.

Technical analysis

Pound - US Dollar Analysis Technical analysis 16/09/2020
Time Frame: 1 hour

GBPUSD Support & Resistance Table - 16/09/2020

Support & Resistance Level Explanation
Resistance 2 1.3002 Daily R2
Resistance 1 1.2957 Daily R1
Support 1 1.2838 Daily S1
Support 2 1.2793 Daily S2

GBPUSD Indicator Table - 16/09/2020

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

GBPUSD Indicator / Period Table - 16/09/2020

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

GBPUSD 16/09/2020 - Reference Price : 1.2893

Sell
Simple Moving AverageBuy (1)Sell (2)
Technical Indicators - OscillatorsBuy (1)Sell (2)
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Risk Warning and Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail client accounts lose money when trading in CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk. The information on this site is not directed at residents of the United States, Belgium or France and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

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