GBP/USD respects pivot point

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


On Tuesday, the GBP/USD surged and reached the resistance of the weekly R1 simple pivot point at the 1.3830 level. The pivot point's resistance held and caused a decline. By the middle of Wednesday's European trading hours, the decline had passed the support of the 55-hour SMA at 1.3769 and was heading to the 1.3750 mark.

In the case that the 1.3750 mark, which could be supported by the 100-hour SMA, holds, the EUR/USD would recover. A potential recovery might find resistance first in the 55-hour SMA at 1.3770. Afterwards, the weekly R1 simple pivot point at 1.3830 might serve as resistance.

On the other hand, a decline below the 1.3750 mark would highly likely result in a decline to the weekly simple pivot point at the 1.3700 mark. Note that the round exchange rate of 1.3700 can provide support and resistance on its own.
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Wed, 20 Oct 2021 10:31:10 GMT

USD/JPY retraces to SMA's support

After touching the 114.70 level, the USD/JPY currency exchange rate began a decline. On Wednesday morning, the pair found support in the 55-hour simple moving average near 114.30. The event resulted in an apparent recovery of the USD/JPY, which could once again test the resistance of the 114.70 mark. If the USD/JPY surges above the 114.70 level, it would most likely

Wed, 20 Oct 2021 10:01:26 GMT

EUR/USD bounces off 1.1670

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