GBP/USD fails to pass above 1.2500

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


After testing the resistance of the 1.2500 level for almost 24 hours, the GBP/USD failed. The event was caused by the release of the 9.00% year on year inflation being confirmed in the United Kingdom. The event resulted in a sharp decline to the 1.2375 level. During the decline, the currency pair passed below the support zone at 1.2400/1.2424, the weekly R1 simple pivot point at 1.2391 and the 50-hour simple moving average.

In the near term future, a continuation of the decline of the Pound against the US Dollar could look for support in the 1.2350 mark and the combination of the 100 and 200-hour simple moving averages at 1.2310, before reaching the 1.2300 level.

However, a resumption of the previous surge is expected to once again test the resistance of the 1.2500 mark.
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Wed, 18 May 2022 12:06:14 GMT

USD/JPY remains below resistance zone

The situation on the USD/JPY charts remains unchanged. Since the start of Monday trading, the USD/JPY has continued to test the resistance of the 129.49/129.80 zone, which marks the May 10 and 11 low levels. Due to that reason, previous forecast scenarios remain unchanged. A move above the 129.80 level could encounter resistance in the 130.00 mark, before reaching the 130.50/130.60

Wed, 18 May 2022 11:49:11 GMT

EUR/USD declines back to 1.0500

At midnight to Wednesday, the combined resistance of the 1.0550 mark, the weekly R1 simple pivot point at 1.0553 and the 1.0560 level were enough to cause a decline of the EUR/USD currency exchange rate. By the middle of the day, the pair had found support in the combination of the 1.0472/1.0492 zone and the 50 and 200-hour simple

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