CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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. 75% 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

US Session Analysis for CFD Instruments 07/06/2023

Fundamental analysis

07 June, 2023


During European trading, the British pound was sharply higher against the US dollar. It is trading around 1.2438. The U.K will report the Halifax House Price Index Year-on-Year for May printed 0.0% as expected. The United States is set to report its April trade balance later today.

Technical analysis

Pound - US Dollar Analysis Technical analysis 07/06/2023
Time Frame: 1 hour

GBPUSD Support & Resistance Table - 07/06/2023

Support & Resistance Level Explanation
Resistance 2 1.2520 Daily R2
Resistance 1 1.2491 Daily R1
Support 1 1.2413 Daily S1
Support 2 1.2384 Daily S2

GBPUSD Indicator Table - 07/06/2023

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 - 07/06/2023

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

GBPUSD 07/06/2023 - Reference Price : 1.2458

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (3)Sell (0)
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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 Canadian Investment Regulatory Organization (CIRO) 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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