GBP/USD bounces off 1.4200

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The GBP/USD rate made a failed attempt at passing the resistance of the 1.4200 level. It was followed up by a sharp decline below the support zone of the late May low levels at 1.4100/1.4095.

Meanwhile, Dukascopy Analytics spotted that the rate has been fluctuating in the borders of a channel down pattern since May 28. In the case of the pattern holding, the pair would not once again reach the 1.4200 level.

At mid-day on Friday, the currency exchange rate had reached the resistance of the 55-hour simple moving average at 1.4140.

If the SMA fails to keep the rate down, the pair would most likely reach the cluster of resistance in the 1.4160/1.4170 range. In that range, the 100 and 200-hour simple moving averages and the weekly simple pivot point were strengthening the resistance of the mentioned channel down pattern's upper trend line. A passing of this cluster would most likely result in a test of the 1.4200 mark.

On the other hand, in the case of the 55-hour SMA holding, the pair could decline first to the weekly S1 simple pivot point at 1.4119 and afterwards the 1.4100 level.
Back to articles

Actual Topics

Fri, 04 Jun 2021 12:52:05 GMT

USD/JPY reaches above 110.20

During late Thursday's trading hours, the USD/JPY reached above the resistance of the zone just below the 110.00 level and the 110.20 mark. After passing the resistance levels, the rate began to consolidate by trading sideways. At mid-day on Friday, the consolidation ended, as the pair dropped at 12:30 GMT. At that time the US monthly employment data sets were released

Fri, 04 Jun 2021 11:49:24 GMT

EUR/USD passes support levels

On Thursday, the EUR/USD passed the support zone above the 1.2160 mark. It resulted in a decline, which by the middle of Friday's GMT trading hours had reached the 1.2105 level. In the near term future, the currency exchange rate could look for support in the 1.2100 level, as round exchange rate levels have been providing impact on the rate. In

Subscribe to "Fundamental Analysis" feed

Souscrire
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.