GBP/USD decline reveals pattern

Source: Dukascopy Bank SA


The Pound's decline against the US Dollar has reached the 1.3120/1.3130 support zone. In addition, the pair has revealed a channel down pattern that has guided the rate's decline.

A recovery of the rate would have to pass above the 200-hour simple moving average, before approaching the 1.3180 level's resistance, combined with the 50-hour SMA. Above these levels, the upper trend line of the channel is expected to reverse a potential recovery.

In the meantime, a decline of the pair would have to pass the 1.3120/1.3130 support range and the lower trend line of the channel pattern. It could be the case that the rate consolidates, before moving below the support zone, but still in the borders of the pattern.
Back to articles

Actual Topics

Fri, 30 Aug 2024 15:26:16 GMT

USD/JPY reaches above 145.00

The USD/JPY pair has managed to breach the resistance of the 145.00 level. In addition, after the first pass above 145.00, the rate retraced back down and revealed the location of a channel up pattern's support range. The ongoing surge of the USD/JPY currency pair is expected to encounter resistance in the 146.25/146.50 zone, before continuing on higher and facing

Fri, 30 Aug 2024 14:25:05 GMT

EUR/USD decline reveals pattern

The decline of the EUR/USD has reached the support zone at 1.1040/1.1060. Meanwhile, it has been spotted that the rate has been declining in a channel down pattern. A continuation of the ongoing decline would have to pass below 1.1040. Further below, the lower trend line of the channel pattern might slow down the pair's descent, before the 1.1000 mark

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.