GBP/USD extends recovery

Source: Dukascopy Bank SA


The ongoing recovery of the Pound against the US Dollar has continued, as by the end of Monday's trading the pair had almost reached the 1.2300 mark. During the first half of the day's trading, the pair had reached above various technical resistance levels that were laid out from 1.2245 up to 1.2260.

A move above 1.2300 could face resistance in the weekly R1 simple pivot point at 1.2325 and the resistance zone at 1.2335/1.2343. Higher above, note the 1.2400 level and the weekly R2 simple pivot point at 1.2423.

Meanwhile, a potential decline of the currency pair could look for support in the combination of the 50 and 100-hour simple moving averages near 1.2260. Afterwards, the weekly simple pivot point at 1.2246 might act as support with the 1.2240 level. Further below, note the 200-hour simple moving average and the 1.2200 mark.
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Mon, 27 Mar 2023 19:16:46 GMT

USD/JPY extends recovery

The USD/JPY recovery from the 130.00 mark has continued. By the late trading hours of Monday's trading, the pair had reached the 200-hour simple moving average near 131.80. In the case of the pair piercing the 200-hour SMA and the 132.00 level, a surge up to the 132.50 level and the weekly R1 simple pivot point at 132.59 might take place.

Mon, 27 Mar 2023 18:36:03 GMT

EUR/USD recovers to 1.0800

The bounce off from the support of the 200-hour simple moving average has continued, as the EUR/USD currency exchange rate has reached the 1.0800 mark and the resistance of the 100-hour SMA near it. An extension of the ongoing decline might encounter resistance in the 1.0850 and 1.0900 levels, prior to testing the combined resistance of the weekly R1

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