GBP/USD breaks pattern and declines

Source: Dukascopy Bank SA


The GBP/USD has passed below the combined support of the lower trend line of a channel up pattern, the 1.1550 level and the 50-hour simple moving average. In the near term future, the pair is expected to find support and resistance in round exchange rate levels.

A continuation of the decline might find support in the 1.1500 mark and the 100-hour simple moving average. Further below, note the 1.1450, 1.1400 levels and the 200-hour simple moving average.

If the Pound surges against the US Dollar, the pair could find resistance at 1.1600 and the 50-hour simple moving average, prior to reaching higher round levels.
Back to articles

Actual Topics

Fri, 28 Oct 2022 12:04:06 GMT

USD/JPY reacts to central bank

Despite the massive depreciation of the Japanese Yen and currency interventions done by the Bank of Japan, the central bank has recently announced that it would stick to its monetary easing policy. The central bank has kept its short term interest rate target at -0.1% and pledged to keep the 10-year bond yield near 0.0%. Moreover, the policymakers stated that

Fri, 28 Oct 2022 11:37:31 GMT

EUR/USD breaks pattern

Despite initially holding, the support of the lower trend line of the channel up pattern and the 1.0000 mark failed. By the middle of Friday's trading, the pair had reached below 0.9950. A decline of the Euro against the US Dollar could look for support in the 0.9900 mark and the 200-hour simple moving average. Further below take into account

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.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
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.