GBP/USD reaches below 1.3400 level

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


By the middle of Thursday's trading, the GBP/USD passed the support of the 1.3450 mark, the October and November low level zone at 1.3410/1.3430 and the 1.3400 mark, and the rate pierced the weekly S1 simple pivot point at 1.3386. Moreover, the 1.3410/1.3430 zone was confirmed as a resistance.

In the highly likely case that the rate continues to decline, the pair could look for support in the 1.3350 level. Afterwards, the 1.3300 mark could act as a support level. Meanwhile, the most close by technical support level was the weekly S2 simple pivot point at 1.3268.

On the other hand, the sharp decline of the pair could consolidate via trading sideways, until the 50 and 100-hour simple moving averages catch up to the rate.
Back to articles

Actual Topics

Thu, 11 Nov 2021 11:21:48 GMT

USD/JPY finds resistance in pivot point

The USD/JPY passed the resistance of the 114.00 level during early Thursday's trading hours. However, the pair found resistance in the weekly R1 simple pivot point at 114.15. By the middle of the day's European trading hours, the pair had failed two attempts to pass the pivot point. In the case that the weekly R1 fails to continue to provide resistance,

Thu, 11 Nov 2021 11:01:47 GMT

EUR/USD reaches 50.00% Fibonacci retracement

The decline of the EUR/USD, on Thursday, passed the support of the weekly S2 simple pivot point at 1.1463 and reached the 50.00% Fibonacci retracement level at 1.1455. Future forecasts were based upon whether the retracement level provides support. If the rate recovers from the 1.1455 level, the EUR/USD might immediately encounter resistance in the form of the weekly

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.