GBP/USD is crashed by central bank

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


On November 4, the Bank of England announced its future monetary policy. In general, the bank decided to keep monetary policy unchanged.

On the announcement, at 12:00 GMT, the GBP/USD started a decline. During the fifteen minutes following the release the rate had declined by 86 base points or 0.63%.

On the technical hourly candle chart, the rate passed this week's low level and the weekly S2 simple pivot point. However, the decline appeared to be stopped by the 1.3550 mark, which caused the rate to retrace back up in the immediate aftermath of the fundamental drop.

If the pair passes the 1.3550 mark's support, it could look for support first in the 1.3500 level. Afterwards, the weekly S3 simple pivot point at 1.3466 might provide support.

Meanwhile, a potential recovery of the pair could find resistance in the weekly S2 simple pivot point at 1.3567, the previous this week's low levels at 1.3605/1.3610 and the weekly S1 simple pivot point at 01.328, which could be strengthened by the 50 and 100-hour simple moving averages.
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Thu, 04 Nov 2021 12:44:01 GMT

USD/JPY passes below support levels

At mid-day on Thursday, the USD/JPY currency exchange rate passed five technical support levels. Namely, the 50, 100 and 200-hour simple moving averages, the weekly simple pivot point and the lower trend line of this week's channel up pattern failed to hold the pair up. Only the 50-hour SMA and the lower trend line of the channel pattern managed to

Thu, 04 Nov 2021 12:01:48 GMT

EUR/USD drops on Thursday

On Wednesday, the EUR/USD passed the resistance of the hourly simple moving averages. However, the rate encountered resistance in the 1.1616/1.1625 zone, which had previously impacted the rate throughout October. At midnight to Thursday, the pair started to plummets. By the middle of the day's European trading hours, the EUR/USD had declined by more than 70 base points. In the

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