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. 70.41% 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.

Pound - US Dollar Analysis

EU Session Analysis for CFD Instruments 16/05/2024

Fundamental analysis

16 May, 2024

During Asian trading, the British Pound was steady against the US Dollar, trading around 1.2600 levels.

The UK is not expected to release any major data today. The United States is expected to release Initial Jobless Claims data.

Technical analysis

Pound - US Dollar Analysis Technical analysis 16/05/2024
Time Frame: 1 hour

GBPUSD Support & Resistance Table - 16/05/2024

Support & Resistance Level Explanation
Resistance 2 1.2733 Daily R2
Resistance 1 1.2711 Daily R1
Support 1 1.2653 Daily S1
Support 2 1.2631 Daily S2

GBPUSD Indicator Table - 16/05/2024

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

GBPUSD Indicator / Period Table - 16/05/2024

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

GBPUSD 16/05/2024 - Reference Price : 1.2682

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (1)Sell (2)
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Pound - US Dollar Chart
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