GBP/USD respects 200-hour SMA

Source: Dukascopy Bank SA


By large, the GBP/USD has been ignoring the resistance zone at 1.2718/1.2727. It no longer manages to impact the rate. Meanwhile, it has been spotted that the pair continues to find support in the 200-hour simple moving averages near 1.2690.

A potential bounces off from the 200-hour SMA and surge higher is expected to face resistance in the 1.2730 and 1.2740 levels. These levels have acted as resistance during this week. Higher above, note the weekly R1 simple pivot point at 1.2769.

In the case of the 200-hour SMA failing to provide support the rate could find support in the weekly simple pivot point at 1.2680. Further below there is no technical support as low as the 1.2600 mark. The 1.2600 mark and the zone that surrounds it are being strengthened by the weekly S1 simple pivot point.
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Thu, 06 Jul 2023 08:40:44 GMT

USD/JPY declines below 144.00

The support of the 200-hour SMA passed above the 144.00 mark, which weakened its support. On Thursday morning, the 200-hour SMA at 144.20, the weekly simple pivot point at 144.08 and the 144.00 level all failed. The rate dipped below these levels, before retracing back up to confirm them as resistance. A move above the 144.00 mark could encounter resistance

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EUR/USD reaches support zone

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