GBP/USD declines after reaching new highs

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


The GBP/USD currency pair encountered resistance in the 1.2430 level and started a decline. By mid-Wednesday, the pair's decline had reached the 1.2250 level.

In the near term future, the pair was expected to approach the 1.2200 mark. However, before the round level is reached, the 200-hour simple moving average is set to provide some support. Further below, take into account the weekly S1 simple pivot point at 1.2182.

However, a potential recovery of the Pound against the US Dollar could result in the pair facing the combined resistance of the 100-hour simple moving average, the weekly simple pivot point at 1.2285 and the October high level of 1.2288. A breaking of these levels would test the resistance of the 50-hour SMA and the 1.2350 and 1.2400 level, before the 1.2430 mark is reached.
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Wed, 08 Nov 2023 11:06:39 GMT

USD/JPY remains near 150.00

By large, the USD/JPY currency pair remains near the 150.00 mark. Most recently, the pair confirmed the 149.20/149.25 range as support and started a recovery. By mid-Wednesday the pair had clearly reached above the hourly simple moving averages near 150.25 and surged to 150.80. The currency pair could soon test the combined resistance of the weekly R1 simple pivot point

Wed, 08 Nov 2023 10:36:41 GMT

EUR/USD respects weekly pivot point

On Tuesday, the EUR/USD confirmed that it can find support in the combination of the weekly simple pivot point and the 100-hour simple moving average at 1.0665. A broader move below 1.0665 could result in the rate looking for support in the 200-hour simple moving average near 1.0635. Further below take into account the notable 1.0600 mark and the range

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