GBP/USD reveals resistance zone near 1.2600

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


Prior to the Friday's release of US employment data, the GBP/USD confirmed a resistance zone at 1.2590/1.2610. The zone caused a decline to the support of the 1.2545/1.2550 range. Afterwards, the US data strengthened the US Dollar, which resulted in the pair touching the support of the 1.2500 mark.

However, by mid-Monday, the pair had recovered and once again tested the 1.2590/1.2610 range, prior to resuming the broader decline.

A decline below the 1.2545/1.2550 range could result in the pair once again looking for support in the 1.2500 mark. Further below, note the 1.2450 level and the weekly S1 simple pivot point at 1.2456.

In the meantime, a potential recovery of the Pound against the US Dollar is set to first face the 50 and 100-hour simple moving averages near 1.2565/1.2570. Higher above, take into account that the 1.2590/1.2610 is strengthened by the weekly simple pivot point at 1.2590 and the approaching 200-hour simple moving average.
Back to articles

Actual Topics

Mon, 11 Dec 2023 18:52:59 GMT

USD/JPY recovers to 146.50

A combination of two fundamental trends has caused a surge of the USD/JPY. First of all, the US better than expected monthly employment data caused a strengthening of the USD. Secondly, the markets realized that the Bank of Japan has not made a promise to change their policy, but is just evaluating its ultra easy policy. By mid-Monday, the rate

Mon, 11 Dec 2023 17:22:07 GMT

EUR/USD respects moving averages

The EUR/USD made an attempt to surge, prior to the Friday's US employment release. However, it encountered resistance in the 100-hour simple moving average. Afterwards, the US data publication caused a decline below 1.0740, but it was followed by a recovery to the resistance of the 50-hour simple moving average. On Monday, the combined resistance of the 50 and 100-hour

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Chcete-li se dozvědět více o platformě Dukascopy Bank CFD / Forex, SWFX a dalších souvisejících obchodních informacích, prosím, zavolejte nám, nebo vám můžeme zavolat my.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.