Pound - US Dollar Analysis

US Session Analysis for CFD Instruments 02/01/2025

Fundamental analysis

02 January, 2025

During European trading, the British Pound decreased against the US Dollar trading below 1.2500 levels.

British factory activity contracted at its fastest pace in 11 months during December, with manufacturers reducing staffing levels in response to higher taxes and weak foreign demand. The Bank of England (BoE) has indicated it will proceed cautiously with further interest rate cuts, waiting to assess whether Reeves' budget exacerbates inflationary pressures. Meanwhile, UK house prices rose by 0.7% in December, building on a 1.2% increase in November. In the United States, initial jobless claims are set to be released at 13:30 GMT, followed by the December Manufacturing PMI at 14:45 GMT.

Technical analysis

Time Frame: 1 hour

GBPUSD Support & Resistance Table - 02/01/2025

Support & Resistance	Level	Explanation
Resistance 2	1.2516	Daily R2
Resistance 1	1.2486	Daily R1
Support 1	1.2406	Daily S1
Support 2	1.2376	Daily S2

GBPUSD Indicator Table - 02/01/2025

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 - 02/01/2025

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

GBPUSD 02/01/2025 - Reference Price : 1.2443

Sell

Simple Moving Average	Buy (0)	Sell (3)
Technical Indicators - Oscillators	Buy (0)	Sell (3)

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