GBP/USD reaches pivot point

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


The surge, which followed the GBP/USD breaking the channel down pattern and the resistance of the 1.3800 mark, has found resistance. Namely, since the middle of Monday's trading hours, the pair has been fluctuating sideways below the weekly R1 simple pivot point at 1.3835.

If the pair breaks the resistance of the pivot point, it could reach for the resistance zone that surrounds the 1.3900 mark. The zone consists of July high levels. In the case of the zone being passed, most likely the weekly R2 simple pivot point at 1.3919 would provide resistance.

Meanwhile, a potential decline would most likely look for support in the 1.3800 mark. Below the 1.3800 level, the hourly simple moving averages could provide additional support.
Back to articles

Actual Topics

Tue, 27 Jul 2021 05:46:43 GMT

EUR/JPY bounces off 200– hour SMA

The EUR/JPY currency pair bounced off a support level formed by the 200– hour simple moving average at 129.77 on Monday.

Tue, 27 Jul 2021 05:39:00 GMT

EUR/USD reaches above 1.1800

The EUR/USD currency exchange rate has reached above the 1.1800 mark. On Tuesday morning, the pair traded in the range between the 1.1800 and 1.1810 levels. In the case of a surge, the pair would most likely face the resistance of the weekly R1 simple pivot point at 1.1819 and the late July high level zone at 1.1821/1.1823. Above

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.