GBP/USD respects round levels

Source: Dukascopy Bank SA


In the aftermath of the GBP/USD surge, which was caused by the US employment data weakening the USD, the currency rate has been respecting round exchange rate levels. Namely, the pair has encountered resistance as it approached 1.2800 and support is found near 1.2700.

A move below 1.2700 might result in the rate looking for support in the 1.2650 level. This level acted as support on Thursday. Further below, note the weekly S1 at 1.2618 and the 1.2600 mark.

However, in the case of a Pound's recovery against the US Dollar, expect resistance to be found in the combination of the 1.2800 mark and the 200-hour simple moving average, before higher levels are reached. Meanwhile, note that the weekly simple pivot point, the 50 and 100-hour simple moving averages and the 1.2750 might start to act as support or resistance.
Back to articles

Actual Topics

Mon, 07 Aug 2023 11:44:53 GMT

USD/JPY remains above 145.00

The USD/JPY found support in the 141.50 level at midnight to Monday, despite passing below the 200-hour simple moving average. During the first half of Monday's trading, the Dollar was recovering against the Yen. The surge of the currency pair faces the resistance of the 50 and 100-hour simple moving averages and the 142.70/143.10 range. Higher above, the 143.50 level

Mon, 07 Aug 2023 11:31:32 GMT

EUR/USD breaks above 1.1000

The EUR/USD broke the channel down pattern due to the release of US monthly employment data causing a drop of the US Dollar's value. The following surge eventually stopped at 1.1040. On Monday, the rate was declining and had reached the combined support of the 50 and 100-hour simple moving averages near 1.0970. A decline below 1.0970 might look for

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.