GBP/USD remains in pattern

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Source: Dukascopy Bank SA


The GBP/USD bounced off the combined resistance of the upper trend line of the channel down pattern, the 100 and 200-hour simple moving averages on Monday. On Tuesday, the rate had retreated to the support of the 1.3860 level, which provided support on June 22.

In the near term future, the pair was expected to fluctuate sideways until resistance approaches from above. Namely, the 55, 100 and 200-hour simple moving averages could push the pair down. However, the pair could trade sideways until it not only reaches the SMAs, but also the upper trend line of the channel down pattern.

Meanwhile, a potential decline below the trend line could occur due to a fundamental event. In this case, the pair would have no support as low as the 1.3800 mark.
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Tue, 29 Jun 2021 07:37:16 GMT

USD/JPY remains above 110.50

Since Monday's trading hours, the USD/JPY currency exchange rate has been fluctuating above the 110.50 mark. By large, the situation had not changed, as the rate remained between the support cluster near 110.50 and the resistance of the 55 and 100-hour simple moving averages. In the near term future, the pair was expected to get squeezed in between the resistance and

Tue, 29 Jun 2021 07:07:34 GMT

EUR/USD is pushed by SMA

The EUR/USD failed to pass the resistance of the 200-hour simple moving average on Monday. Moreover, during the day the SMA forced the pair into a short period of trading below the support zone of 1.1925/1.1920. During the early hours of Tuesday's trading, the pair had clearly retreated below the support zone. In theory, the currency exchange rate should decline,

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