CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.91% 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 all your money. Read full risk warning.
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Pound - US Dollar Analysis

EU Session Analysis for CFD Instruments 07/01/2021

Fundamental analysis

07 January, 2021

The GBP/USD fell 0.20% during the European trading session to trade below the mark of 1.3600. The US dollar rose in volatility after reports that protesters in Washington stormed the US Capitol on Wednesday to increase uncertainty as Bide’s certification resumed on Thursday. The UK’s Composite and Services PMI’s for December were 50.4 and 49.4 respectively. In the United States the ADP Nonfarm Employment Change for December fell by 123,000 jobs. The consensus forecast was an increase of 88,000. The Markit Composite PMI for December printed at 55.3, just under its forecast. The Services PMI for December came in at 54.8. Analysts were expecting 55.3.

Technical analysis

Pound - US Dollar Analysis Technical analysis 07/01/2021
Time Frame: 1 hour

GBPUSD Support & Resistance Table - 07/01/2021

Support & Resistance Level Explanation
Resistance 2 1.36745 Daily R2
Resistance 1 1.36382 Daily R1
Support 1 1.35416 Daily S1
Support 2 1.35053 Daily S2

GBPUSD Indicator Table - 07/01/2021

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

GBPUSD Indicator / Period Table - 07/01/2021

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

GBPUSD 07/01/2021 - Reference Price : 1.35899

Sell
Simple Moving AverageBuy (1)Sell (1)
Technical Indicators - OscillatorsBuy (1)Sell (1)
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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. 71% 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. 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. See full risk warning

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 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. You do not own, or have any interest in, the underlying assets. Fortrade Canada Limited is an Order Execution Only broker, and does not provide investment advice or recommendation. Fortrade is a member of the Canadian Investment Regulatory Organization (CIRO) and a member of the Canadian Investor Protection Fund (CIPF). Fortrade Canada Limited is authorised to provide CFD trading services in all provinces in Canada except Quebec. Residents of Alberta province are required to be Accredited Investors to trade CFDs.

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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. 70.91% 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. Fortrade Cyprus Ltd is regulated and supervised by the Cyprus Securities and Exchange Commission (CySEC) with CIF license number 385/20. CFD products may not be suitable for all clients, therefore ensure, that you understand the risks involved 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.

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