GBP/USD trades above 1.2750

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


On Thursday, at 12:00 GMT, the United Kingdom's central bank announced the Official Bank Rate and released the Monetary Policy Summary. As forecast by the market consensus, the bank kept the rate at 5.25%. In the meantime, the Monetary Policy Committee was expected to vote with two members voting for an increase and seven for keeping the rate intact. However, three instead of two members wanted a rate hike. This signals that the Bank of England is more inclined at rate hikes than it was thought.

The Pound reacted to the news with a surge above 1.2700, which extended the previous gains that occurred after the Federal Reserve hikes on Wednesday. By the middle of Friday's trading, the rate had reached above 1.2750, which was confirmed as support. However, the pair had not approached the 1.2800 mark and the resistance levels above it.

An extension of the Pound's surge against the US Dollar is set to face the 1.2800 mark, the weekly R2 simple pivot point at 1.2812 and the August high level at 1.2819. Higher above note that the 1.2850

Meanwhile, a decline of the currency pair would look for support in the 1.2720/1..2730 range. Further below, note the weekly R1 simple pivot point at 1.2678 and the 50-hour simple moving average. If all these levels fail, the pair could move to the 1.2590/1.2610 range, the 100 and 200-hour simple moving averages and the weekly simple pivot point.
Back to articles

Actual Topics

Fri, 15 Dec 2023 12:24:34 GMT

USD/JPY remains at 141.00

In general, the rate appears to be consolidating at the 141.00 mark, as it waits for more news either from the US or Japan. In the US it is the case of whether the Dollar continues its decline or it gets oversold and a retracement recovery occurs. Meanwhile, in Japan the Prime Minister is changing the government. Media reports indicate

Fri, 15 Dec 2023 11:41:13 GMT

EUR/USD hits resistance near 1.1000

The rate was surging after finding support in the 1.0880/1.0888 range, as the management of the European Central Bank added fuel to the fire. Despite keeping the Euro rate unchanged, the central bank President Christine Lagarde made comments on how the policy should be strict and tight, which pushed the Euro even higher. After the events, the surge continued

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.