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.

Pound - US Dollar Analysis

EU Session Analysis for CFD Instruments 06/12/2024

Fundamental analysis

06 December, 2024

During Asian trading, the British Pound declined against the US Dollar trading above 1.2700 levels.
The GBP/USD pulled back slightly after hitting a more than three week peak in yesterday’s session following the Bank of England Governor Bailey outlined that four rate cuts were anticipated in 2025. In the UK, Halifax House Price Index for November (3.9 last month) will be posted (07:00 GMT). In the US, Nonfarm Payrolls (202k expected) and Unemployment Rate (4.2% exp) data will be released (13:30 GMT).

Technical analysis

Pound - US Dollar Analysis Technical analysis 06/12/2024
Time Frame: 1 hour

GBPUSD Support & Resistance Table - 06/12/2024

Support & Resistance Level Explanation
Resistance 2 1.2803 Daily R2
Resistance 1 1.2778 Daily R1
Support 1 1.2712 Daily S1
Support 2 1.2687 Daily S2

GBPUSD Indicator Table - 06/12/2024

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

GBPUSD Indicator / Period Table - 06/12/2024

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

GBPUSD 06/12/2024 - Reference Price : 1.2745

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