GBP/USD decline reaches 1.26000

Source: Dukascopy Bank SA
The Federal Reserve's decision on December 18th has had a significant impact on the GBP/USD currency pair. The substantial increase in USD strength has brought the GBP/USD pair towards the 1.26000 price level.



If the price momentum to the downside continues, the 1.24800 support level could be tested. The December 20th data release for month-on-month retail sales in the UK could influence this movement if the data suggests lower-than-expected sales. Significant price swings towards the weekend are possible if any major news is presented to the market.
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Fri, 27 Dec 2024 13:50:06 GMT

GBP/USD Tests 1.25000 level

The holiday trading week allows global trader sentiment to determine the trading bias of a currency pair. GBP/USD is currently testing the 1.25000 price level. The price level of 1.26055 should be tested if the forward momentum in the price action suggests that a move to the upside is possible. In that case, the further price level of 1.27000 could

Tue, 17 Dec 2024 12:15:24 GMT

ZAR/JPY Technical analysis

The ZAR/JPY currency pair reached resistance at the 8.6360 level, and the breakout was denied, increasing the probability of further price discovery towards the 8.4900 level. If support at the 8.35 level is broken, momentum could increase the likelihood of further selling pressure. The 10-hour RSI suggests the currency pair has been overbought.

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