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 08/10/2024

Fundamental analysis

08 October, 2024

During Asian trading, the British Pound edged higher against the US Dollar trading below 1.3100 levels.

The pound attempted to break out of the recent downtrend which began last week. Yesterday the pair hit a fresh more than three week low on heightened expectations that the Bank of England would cut rates more aggressively. In the UK, no data is scheduled to be posted today. In the United States, FOMC Meeting Minutes will be published at 19:00 GMT+1.

Technical analysis

Pound - US Dollar Analysis Technical analysis 08/10/2024
Time Frame: 1 hour

GBPUSD Support & Resistance Table - 08/10/2024

Support & Resistance Level Explanation
Resistance 2 1.3170 Daily R2
Resistance 1 1.3136 Daily R1
Support 1 1.3046 Daily S1
Support 2 1.3012 Daily S2

GBPUSD Indicator Table - 08/10/2024

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

GBPUSD Indicator / Period Table - 08/10/2024

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

GBPUSD 08/10/2024 - Reference Price : 1.3089

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