GBP/USD encounters resistance

Source: Dukascopy Bank SA


The GBP/USD currency pair has encountered resistance in the descending 200-hour simple moving average near 1.2790. The event has resulted in a decline. On Tuesday morning, the pair was heading to the support of the 1.2700 mark.

A move below 1.2700 might result in the rate looking for support in the 1.2650 level. This level acted as support on Thursday. Further below, note the weekly S1 at 1.2618 and the 1.2600 mark.

However, in the case of a Pound's recovery against the US Dollar, expect resistance to be found in the combination of the 1.2800 mark and the 200-hour simple moving average, before higher levels are reached. Meanwhile, note that the weekly simple pivot point, the 50 and 100-hour simple moving averages and the 1.2750 might start to act as support or resistance.
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Tue, 08 Aug 2023 10:36:17 GMT

USD/JPY approaches 143.50 level

On Tuesday, the USD/JPY managed to reach above the 142.70/143.10 range and the 100-hour simple moving average. The event was followed by the pair encountering resistance in the combination of the 143.50 level and the weekly R1 simple pivot point. A move above 143.50 and the weekly R1 simple pivot point at 143.49 could be slowed down by the 144.00

Tue, 08 Aug 2023 10:27:31 GMT

EUR/USD remains near previous levels

The EUR/USD appears to be waiting for this week's US Consumer Price Index release by fluctuating near the 1.1000 mark. Note that the rate has been ignoring the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point. A decline might look for support in the 1.0935/1.0950 range, before reaching the weekly S1 simple pivot point at

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