GBP/USD finds support in 1.2845/1.2955

Source: Dukascopy Bank SA


The rate has encountered resistance near 1.2940 and declined to the support of the 1.2845/1.2855 range. The range is keeping the rate from declining further. However, the 50 and 100-hour simple moving averages are approaching from above and could push the rate down. Meanwhile, it has been spotted that the decline has occurred in a channel down pattern.

A proper recovery of the Pound against the US Dollar is set to face the 50 and 100-hour simple moving averages and the upper trend line of the channel down pattern. Higher above, the 1.2900 is most likely going to act as resistance. In addition, the 200-hour SMA might descend and strengthen the 1.2900.

On the other hand, a move below 1.2845 is set to look for support in the 1.2800/1.2820 range that has acted both as support and resistance in June and July.
Back to articles

Actual Topics

Fri, 26 Jul 2024 13:26:52 GMT

USD/JPY finds support in 152.00

The USD/JPY continued to decline and eventually reached the 152.00 mark. This level acted as support and has forced the rate to retrace back up to as high as the combined resistance of the 100-hour simple moving average and the resistance line that has guided the rate down since July 10. Meanwhile, note that the July support trend line

Fri, 26 Jul 2024 13:06:09 GMT

EUR/USD reveals new zone

The EUR/USD has been trading around the 1.0850 mark for most of the week, as it has been bounced around by US data releases. Meanwhile, the pair has revealed a new support and resistance range at 1.0825/1.0830. On Friday, the rate was finding support in the 1.0840/1.0850 range and minor resistance was provided by the 100-hour simple moving average.

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.