GBP/USD declines as low as 1.2750

Source: Dukascopy Bank SA


The GBP/USD ended its sideways consolidation with a decline. By mid-Tuesday, the decline had reached below the 1.2750 level and had almost touched the weekly S1 simple pivot point at 1.2740.

In the case of a decline below 1.2740, the rate is expected to look for support in two zones. There are support and resistance zones at 1.2722/1.2727 and 1.2685/1.2700.

A strengthening of the Pound against the USD is expected to face resistance in the 1.2800/1.2815 range. Higher above, the 50, 100 and 200-hour simple moving averages could strengthen the 1.2830/1.2840 zone.
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Tue, 01 Aug 2023 17:27:27 GMT

USD/JPY manages to break resistance

The USD/JPY has broken the resistance of the 143.00 mark. The rate had reached the 143.50 level by the second part of Tuesday's European trading. A continuation of the ongoing USD surge against the Japanese Yen is expected to face resistance in the 144.00 mark and the weekly R2 simple pivot point at 144.09. Higher above, note the 145.00

Tue, 01 Aug 2023 16:59:15 GMT

EUR/USD returns back below 1.1000

The EUR/USD has bounced off the combined resistance of the weekly simple pivot point and the 100-hour simple moving average, before reaching the 1.1050 level. The following decline has reached below the 1.0960 level during mid-Tuesday trading. An extension of the ongoing decline is highly likely going to look for support in the 1.0935/1.0950 range, before approaching the weekly S1

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