GBP/USD faces resistance zone

Source: Dukascopy Bank SA


The GBP/USD is facing the resistance zone that is located at 1.2260/1.2285. Meanwhile, on Tuesday support was being provided by the 50-hour simple moving average.

A breaking of the 1.2260/1.2285 range is expected to result in a surge of the Pound against the US Dollar. The potential surge would face resistance at the 1.2300 mark and the weekly R1 simple pivot point. Higher above, take into account the 1.2350 mark and the combination of the 1.2400 level and the weekly R2 simple pivot point.

On the other hand, a decline below the 50-hour simple moving average near 1.2220 might result in the rate looking for support in the 1.2200 level. Further below, the combination of the 100 and 200-hour simple moving averages and the weekly simple pivot point could act as support.
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Tue, 10 Oct 2023 12:38:51 GMT

USD/JPY support and resistance are marked

Since the bounce off from the 150 mark, the USD/JPY has been trading between two zones. Support is found at 148.15/148.30. Resistance is located at 149.30/149.50. Meanwhile, it appears that the rate is ignoring the simple moving averages and the weekly simple pivot point. A move above the 149.50 mark is expected to face major resistance in the 150.00 mark.

Tue, 10 Oct 2023 11:35:28 GMT

EUR/USD faces 1.0600/1.0620 resistance

The EUR/USD is facing the resistance of the 1.0600/1.0620 zone. The zone has previously acted as support and resistance. A bounce off from the 1.0600 level is expected to result in the rate looking for support in the 1.0560 level and the 50-hour simple moving average. Below this level, it is highly likely that the rate could stop at the

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