Note: This section contains information in English only.
The decline of the Pound against the US Dollar has reached the 1.1450 level. The pair has been declining in a set way. A new round low level is reached, the pair then retraces back above the previous round level, prior to reaching a new low level. For example, GBP/USD reached 1.1500, recovered above 1.1550 and then reached the 1.1450 level.
In theory, the pair might now retrace back above 1.1500, where it could encounter resistance in the 50-hour simple moving average or the 1.1550 mark. Afterwards, a resumption of the decline would have to pass the weekly S1 simple pivot point at 1.1411, before reaching the 1.1400 level.
On the other hand, a move above 1.1550 might signal that the decline is over. However, take into account the resistance of the weekly simple pivot point and the 100-hour simple moving average near 1.1585. Higher above, the 1.1600 and 1.1650 levels are expected to act as resistance.
Mon, 05 Sep 2022 08:28:30 GMT
Source: Dukascopy Bank SA
The decline of the Pound against the US Dollar has reached the 1.1450 level. The pair has been declining in a set way. A new round low level is reached, the pair then retraces back above the previous round level, prior to reaching a new low level. For example, GBP/USD reached 1.1500, recovered above 1.1550 and then reached the 1.1450 level.
In theory, the pair might now retrace back above 1.1500, where it could encounter resistance in the 50-hour simple moving average or the 1.1550 mark. Afterwards, a resumption of the decline would have to pass the weekly S1 simple pivot point at 1.1411, before reaching the 1.1400 level.
On the other hand, a move above 1.1550 might signal that the decline is over. However, take into account the resistance of the weekly simple pivot point and the 100-hour simple moving average near 1.1585. Higher above, the 1.1600 and 1.1650 levels are expected to act as resistance.