GBP/USD remains below 200-hour SMA

Source: Dukascopy Bank SA


The 200-hour simple moving average is stopping the Pound from surging higher against the US Dollar. The SMA is strengthening the 1.2750 level, which is most likely also providing its impact. In general, previous forecast scenarios remains relevant.

A move above 1.2750 could encounter resistance in the 1.2800 mark and the weekly R1 simple pivot point at 1.2806. Above these levels, note the 1.2840/1.2850 zone.

However, in the case of a GBP decline against the US Dollar the 1.2685/1.2700 range is set to act as support, before the pair approaches the weekly S1 at 1.2652. Meanwhile, note that it was spotted at mid-Tuesday that the 50-hour simple moving average was acting as support near 1.2720.
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Tue, 27 Jun 2023 14:56:41 GMT

USD/JPY reaches new high

Despite the Japanese government announcing measures to stop the decline of the Yen, on Tuesday the USD/JPY reached a new high level, as it reached 144.00. The surge was spotted to have been surging due to the support of the 50-hour simple moving average reaching the 143.50 mark. The combined strength caused a sharp surge. An extension of the USD/JPY surge

Tue, 27 Jun 2023 14:49:57 GMT

EUR/USD continues recovery

The EUR/USD has continues its recovery. By mid-Tuesday, the rate had reached above the resistance levels near 1.0920. A continuation of the surge is expected to face resistance in the 1.0980 level, the weekly R1 at 1.0987 and the 1.1000 mark. Note that despite being pierced the 1.1000 mark caused the most recent decline of the Euro against the US

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