GBP/USD remains below 1.2600

Source: Dukascopy Bank SA


During the high volatility caused by Jerome Powell, the GBP/USD fluctuated between 1.2650 and 1.2550. During the event it was shown that the 50-hour simple moving average can act as resistance and the 1.2550 mark acts as support. On Monday, the moving average was keeping the rate down.

A resumption of the broader Pound's decline against the US Dollar would have to pass the 1.2550 mark, before approaching the 1.2500 level and the weekly S1 simple pivot point at 1.2480.

On the other hand, a recovery of the currency pair would have to break the combination of the 50-hour simple moving average and the 1.2600 mark. Higher above, note the 1.2615/1.2620 range, the weekly simple pivot point at 1.2640 and the 100-hour simple moving average near 1.2650.
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Mon, 28 Aug 2023 13:56:21 GMT

USD/JPY consolidates at 146.25/146.55

The speech by Jerome Powell at Jackson Hole symposium created major volatility, during which the USD/JPY managed to pierce the 146.25/146.55 range. However, the event was not followed by a broader surge. Instead, up to mid-Monday the rate fluctuated in the previous resistance range. In the case of the 146.25/146.55 range turning into support, a broader surge might be slowed

Mon, 28 Aug 2023 13:26:53 GMT

EUR/USD trades above 1.0800

The speech done by Jerome Powell at Jackson Hole caused major volatility of the EUR/USD. the pair traded between the Friday's low level at 1.0766 and the resistance of the 1.0835/1.0845 range. On Monday, the pair traded almost flat between 1.0800 and 1.0820. A move above 1.0820 could encounter resistance in the combination of the weekly simple pivot point

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