GBP/USD reveals pattern

Source: Dukascopy Bank SA


Recent comments made by the head of the US Federal Reserve have weakened the US Dollar. It has resulted in a surge of the GBP/USD that has continued to break one resistance after another. In addition, it has been spotted that the surge has occurred in a channel up pattern.

In the near term future, the pair is set to face the resistance of the 1.2800 mark and the weekly R3 simple pivot point at 1.2802. Higher above, note that the August high level could slow down a surge at 1.2819.

On the other hand, a decline would look for support in the 1.2760/1.2775 range, the weekly R2 simple pivot point at 1.2750 and the 50-hour simple moving average near 1.2725.
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Thu, 07 Mar 2024 15:52:42 GMT

USD/JPY respects pivot point

The decline of the USD/JPY continues. On Thursday, the pair found support in the weekly S3 simple pivot point at 147.60. An extension of the ongoing decline is expected to look for support in the 146.65/147.10 range. Further below, the 146.00 level might stop the decline. In the case of a USD recovery, watch the weekly S2 simple pivot point at

Thu, 07 Mar 2024 15:39:29 GMT

EUR/USD passes above 1.0900

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