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 01/11/2024

Fundamental analysis

01 November, 2024

During European trading, the British Pound climbed against the US Dollar trading below 1.3000 levels.

The Pound Sterling pair traded higher in European trading despite the fact that data coming out of the UK was below expectations earlier in the session. In the UK, Manufacturing PMI for October was 49.9 vs 50.3 exp. In the United States, Nonfarm Payrolls and Unemployment Rate for October 108k exp and 4.1% respectively, will be released (12:30 GMT), Manufacturing PMI data for October (47.8 exp) will also be released (13:45 GMT).

Technical analysis

Pound - US Dollar Analysis Technical analysis 01/11/2024
Time Frame: 1 hour

GBPUSD Support & Resistance Table - 01/11/2024

Support & Resistance Level Explanation
Resistance 2 1.2966 Daily R2
Resistance 1 1.2942 Daily R1
Support 1 1.2879 Daily S1
Support 2 1.2855 Daily S2

GBPUSD Indicator Table - 01/11/2024

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

GBPUSD Indicator / Period Table - 01/11/2024

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

GBPUSD 01/11/2024 - Reference Price : 1.29072

Sell
Simple Moving AverageBuy ()Sell ()
Technical Indicators - OscillatorsBuy ()Sell ()
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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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