Pound - US Dollar Analysis

EU Session Analysis for CFD Instruments 23/01/2025

Fundamental analysis

23 January, 2025

During Asian trading, the British pound edged lower against the US Dollar trading below 1.2400 levels.

The currency pair remained subdued for the second session, after the greenback gained strength due to the potential inflationary impact of US tariffs, which would reduce the ability of the Fed to cut interest rates. In the UK, CBI Industrial Trends Orders for January (-35 exp) will be posted (11:00 GMT). In the US, Initial Jobless Claims data (221k expected) will be posted (13:30 GMT) and President Trump will hold an online speech at the World Economic Forum (16:00 GMT).

Technical analysis

Time Frame: 1 hour

GBPUSD Support & Resistance Table - 23/01/2025

Support & Resistance	Level	Explanation
Resistance 2	1.2390	Daily R2
Resistance 1	1.2357	Daily R1
Support 1	1.2270	Daily S1
Support 2	1.2237	Daily S2

GBPUSD Indicator Table - 23/01/2025

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

GBPUSD Indicator / Period Table - 23/01/2025

Indicator / Period	Day - Buy	Week - Sell	Month - Sell
MACD( 12;26;9)	Buy	Sell	Sell
RSI (14)	Buy	Sell	Sell
SMA 20	Buy	Sell	Sell

GBPUSD 23/01/2025 - Reference Price : 1.2313

Buy

Simple Moving Average	Buy (2)	Sell (1)
Technical Indicators - Oscillators	Buy (2)	Sell (1)

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