CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider 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 02/02/2023

Fundamental analysis

02 February, 2023

The Pound dollar currency pair edged higher during the Asian session. The pair is trading at 1.2391. The Bank of England will make an Interest Rate decision later today, with markets forecasting a 50 basis point hike to 4.00%. The United States reported ISM Manufacturing PMI for January at 47.4 vs 48.0. Nonfarm Employment Change printed 106k vs 178k. JOLTs Job Openings for December were reported at 11.012m vs 10.250m. Initial Jobless Claims will be reported later today.

Technical analysis

Pound - US Dollar Analysis Technical analysis 02/02/2023
Time Frame: 1 hour

GBPUSD Support & Resistance Table - 02/02/2023

Support & Resistance Level Explanation
Resistance 2 1.2452 Daily R2
Resistance 1 1.2424 Daily R1
Support 1 1.2352 Daily S1
Support 2 1.2324 Daily S2

GBPUSD Indicator Table - 02/02/2023

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

GBPUSD Indicator / Period Table - 02/02/2023

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

GBPUSD 02/02/2023 - Reference Price : 1.2383

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (0)Sell (1)
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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 Investment Industry Regulatory Organization of Canada (IIROC) 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 and highly speculative instruments, which 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 all your invested capital. Be Aware: You can lose all, but not more than the balance of your Trading Account. 76% of retail investor accounts lose money when trading CFDs with this provider. These products may not be suitable for all clients, therefore ensure, that you understand the risks and seek independent advice. Should you proceed with investment in CFDs on virtual currencies, please note, that the values are highly volatile and may result in a significant loss for a short period of time. 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 or Belgium 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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