GBP/USD remains below 1.2300

Note: This section contains information in English only.
Source: Dukascopy Bank SA


At the start of the week's trading, the GBP/USD currency pair reached above the resistance zone at 1.2250/1.2255 and gradually approached the 1.2300 mark. However, on Monday morning, before reaching the 1.2300 level, the price retraced down to the combined support of the 50-hour simple moving average and the 1.2220 level. Afterwards, up to the middle of the day, the GBP/USD remained in the range between 1.2220 and 1.2300.

A move below the 1.2220 mark is highly likely set to look for support in the previous week's low level zone at 1.2155/1.2165, before approaching the weekly S1 simple pivot point at 1.2141.

On the other hand, a surge of the GBP against the US Dollar would have to pass above the 1.2300 level. Above 1.2300, take into account the approaching 200-hour simple moving average near 1.2325.
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Mon, 16 May 2022 13:16:09 GMT

USD/JPY reaches resistance

During the first half of Monday's trading hours, the USD/JPY currency pair made two attempts at passing the resistance zone of the May 10 and 11 low levels at 129.49/129.80. A move above the 129.80 level could encounter resistance in the 130.00 mark, before reaching the 130.50/130.60 zone. Higher above, note the 131.00/131.33 levels. Meanwhile, the 129.80 level is set

Mon, 16 May 2022 12:50:23 GMT

EUR/USD respects 1.0420 level

The EUR/USD started the week by surging above a resistance zone at 1.0415/1.0420 and afterwards confirming it as support. In the near term future, a potential continuation of the surge of the Euro against the US Dollar could encounter resistance in the combination of the weekly simple pivot point at 1.0451, the 100-hour simple moving average and the 1.0450

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