GBP/USD reaches above 1.2500

Source: Dukascopy Bank SA


The GBP/USD surge has continued on, as the pair found support in the 1.2400 mark. However, the surge has encountered resistance in the weekly R2 simple pivot point at 1.2527. The following retracement downwards was observed to be finding support in the 50-hour simple moving average at 1.2450.

A resumption of the surge of the Pound against the US Dollar would have to pass above the weekly R2 at 1.2527 and the 1.2550 and 1.2600 round exchange rate levels.

In the case of a decline, the pair is most likely going to look for support in the 50-hour SMA and the 1.2450 level. Further below, note the 1.2400 mark, the weekly R1 at 1.2428 and the 100-hour simple moving average near 1.2400.
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Wed, 05 Apr 2023 13:49:25 GMT

USD/JPY declines to 131.00

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