GBP/USD almost reaches 1.2350

Source: Dukascopy Bank SA


The release of the US employment data caused a drop of the GBP/USD down below 1.2150. However, three hours later, the pair had recovered back to 1.2300. On Monday morning, the pair moved above 1.2300 and approached the 1.2350 mark, before a retracement downwards started.

The ongoing retracement of the Pound against the US Dollar could look for support first in the combination of the 1.2250 level and the 50-hour simple moving average. Further below, note the 1.2200 mark and the weekly simple pivot point at 1.2160. In the meantime, the 100 and 200-hour SMAs are approaching near 1.2100.

On the other hand, a resumption of the surge of the pair would face resistance in 1.2300, 1.2350 and 1.2400, before approaching the resistance of the weekly R1 simple pivot point at 1.2425.
Back to articles

Actual Topics

Mon, 05 Dec 2022 08:43:30 GMT

USD/JPY reveals support range

The USD/JPY currency pair eventually found support in the 133.60/133.70 range on Friday morning. Afterwards, the US Dollar surged due to the higher than expected US monthly employment data, but encountered resistance in 136.00. By 08:00 GMT on Monday, the pair was trading near the 135.00 mark, which was strengthened by the 50-hour simple moving average. If the US Dollar surges

Mon, 05 Dec 2022 08:04:37 GMT

EUR/USD remains above 1.0500

The EUR/USD currency exchange rate had reached a new high level on Monday morning, as the pair touched the 1.0585 level. However, the event was followed by a decline, as by 08:00 GMT the pair was below 1.0550. In the case of a continuous decline the pair might look for support first in the 50-hour simple moving average near 1.0510and

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.