GBP/USD remains below 1.2400

Source: Dukascopy Bank SA


Despite a recent short lived surge, the GBP/USD continues to trade below the 1.2400 mark. Meanwhile, it was spotted that the pair mostly ignores the hourly simple moving averages.

An extension of the ongoing decline might look for support near the 1.2300 mark or one of the weekly simple pivot points. The rate has found support and resistance not exactly in the 1.2300 mark, but in a wider range around it. Meanwhile, further below, the 1.2200 mark has been an exact resistance and support. Namely, the pair bounces off the 1.2200 level.

However, in the case of a surge of the Pound against the US Dollar could encounter resistance in this year's various high levels near 1.2475, 1.2500 and 1.2550.
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Wed, 31 May 2023 10:45:38 GMT

USD/JPY respects moving averages

The rate has made a second attempt to reach the 141.00 mark. However, the rate's efforts were stopped by a now marked resistance zone at 140.89/140.93. Meanwhile, it has been spotted that hourly simple moving averages manage to act as resistance and support. In the case of a resumption of the USD surge against the Japanese Yen would have to pass

Wed, 31 May 2023 10:19:49 GMT

EUR/USD passes support levels

The EUR/USD has passed below the 1.0700 mark, which previously acted as support. In general, the pair has reached levels not seen since March, as the US Dollar continues to gain value. An extension of the ongoing decline might be slowed down by round exchange rate levels, as it has been spotted that round levels manage to impact the rate.

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