CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% 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.

Pound - US Dollar Analysis

EU Session Analysis for CFD Instruments 16/10/2024

Fundamental analysis

16 October, 2024

During Asian trading, the British Pound increased against the US Dollar trading above 1.3000 levels.

The GBP/USD pair rose this morning ahead of important inflation data which may help Bank of England policymakers whether to opt for an interest rate cut in November. In the UK, CPI Inflation data for September (1.9% expected) will be posted today (07:00 GMT+1). In the United States, Export and Import Price Index data for September will be posted (13:30 GMT+1).

Technical analysis

Pound - US Dollar Analysis Technical analysis 16/10/2024
Time Frame: 1 hour

GBPUSD Support & Resistance Table - 16/10/2024

Support & Resistance Level Explanation
Resistance 2 1.3110 Daily R2
Resistance 1 1.3094 Daily R1
Support 1 1.3050 Daily S1
Support 2 1.3034 Daily S2

GBPUSD Indicator Table - 16/10/2024

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

GBPUSD Indicator / Period Table - 16/10/2024

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

GBPUSD 16/10/2024 - Reference Price : 1.3073

Buy
Simple Moving AverageBuy (1)Sell (2)
Technical Indicators - OscillatorsBuy (1)Sell (2)
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Pound - US Dollar Chart
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