GBP/USD tests support levels

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Source: Dukascopy Bank SA


The GBP/USD currency exchange rate declined on Wednesday morning below the 55 and 200-hour simple moving averages. The rate was testing the support zone of the 1.3575/1.3595 levels.

If the rate continues to decline, it could find support in the weekly simple pivot point at 1.3563 and the 100-hour simple moving average at 1.3553. A passing below the technical levels would leave the GBP/USD with no additional technical support as low as the weekly S1 simple pivot point at 1.3397. However, round exchange rate levels would highly likely impact the pair.

Meanwhile, a recovery of the pair might encounter resistance in the 55 and 200-hour simple moving averages at 1.3600 and 1.3580 before aiming at this week's high level zone just below the 1.3650 mark.
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Wed, 06 Oct 2021 07:51:06 GMT

USD/JPY sharply recovers

The USD/JPY has recovered, as it found support in the 110.82/110.90 zone. The following surge passed the resistance of the 55, 100 and 200-hour simple moving averages. On Wednesday morning, the rate had reached the 111.80 level. A continuation of the surge of the USD/JPY currency exchange rate could reach first for the weekly R1 simple pivot point at 111.93. Afterwards,

Wed, 06 Oct 2021 07:29:45 GMT

EUR/USD approaches low level

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