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 06/02/2023

Fundamental analysis

06 February, 2023

The Pound dollar currency pair edged upwards during the Asian session. The pair is trading at 1.2066. The Bank of England raised Interest Rates 50 basis points to 4.00% as expected. The United States printed Initial Jobless Claims at 183k. The consensus was 200k. ISM Non-Manufacturing PMI for January and the Unemployment Rate for January will be reported later today. The Non-Farm Payrolls for January are also set to print.

Technical analysis

Pound - US Dollar Analysis Technical analysis 06/02/2023
Time Frame: 1 hour

GBPUSD Support & Resistance Table - 06/02/2023

Support & Resistance Level Explanation
Resistance 2 1.2158 Daily R2
Resistance 1 1.2116 Daily R1
Support 1 1.2006 Daily S1
Support 2 1.1964 Daily S2

GBPUSD Indicator Table - 06/02/2023

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

GBPUSD Indicator / Period Table - 06/02/2023

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

GBPUSD 06/02/2023 - Reference Price : 1.2062

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