GBP/USD breaks resistance

Source: Dukascopy Bank SA


The release of the US Consumer Price Index revealed that inflation has acted almost as expected. Due to this reason the US Dollar lost value and the GBP/USD moved higher. The rate managed to beat the resistance zone at 1.2650/1.2670.

The ongoing surge of the pair might encounter resistance in the 1.2700 mark and the weekly R1 simple pivot point at 1.2706. Higher above, note the weekly R2 at 1.2788 and the 1.2800 level.

Meanwhile, a potential retracement back downwards might look for support in the 1.2650/1.2670 range. Afterwards, the combination of the 50 and 100-hour simple moving averages could slow down a decline near 1.2600. Further below, note the weekly simple pivot point at 1.2571 and the 200-hour SMA near 1.2700.
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Wed, 10 May 2023 13:08:00 GMT

USD/JPY breaks out of range

The release of US inflation data caused a drop of the USD. On the USD/JPY charts it resulted in the pair passing below the support range at 134.60/134.70. The ongoing decline might look for support in the 134.00 and 133.50 levels, before approaching the cluster of support levels near 132.00. Meanwhile, a potential recovery of the US Dollar could encounter resistance in

Wed, 10 May 2023 12:55:35 GMT

EUR/USD finds support in SMA

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