GBP/USD books new high

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


The surge of the GBP/USD has continued due to the prior momentum. On Wednesday, the lower than expected US CPI boosted the move. In the near term future, the pair could approach the 1.2700 mark.

A move above 1.2700 is expected to be slowed down by the combination of the weekly R3 simple pivot point at 1.2745 and the 1.2750 level. Higher above, note the 1.2800 mark.

In the case of a decline of the Pound against the US Dollar, the rate will look for support in the 1.2620 level, before reaching the combination of the 1.2600 mark and the weekly R1 at 1.2597.
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Actual Topics

Wed, 15 May 2024 15:13:26 GMT

USD/JPY reacts to US news

US statisticians have published consumer price index and retail sales data sets. Both inflation and consumer shopping were expected to have increased. In general, the data showed that prices have risen less than expected. However, retail sales are unchanged. US Dollar reacted to the news by plummeting. It resulted in the USD/JPY dropping to the 154.50/154.80 zone. The zone acted

Wed, 15 May 2024 13:01:30 GMT

EUR/USD continues higher

The EUR/USD managed to breach the 1.0800 mark and was consolidating, as the US CPI data was published. Due to the data being below forecast, the Dollar plummeted. It resulted in the EUR/USD heading higher. Resistance could be encountered in the weekly R3 simple pivot point at 1.0866 and the April high level resistance zone that surrounds the 1.0880 level.

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