GBP/USD recovers despite piercing 1.3100

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Source: Dukascopy Bank SA


On Wednesday, the GBP/USD ended trading above the support zone at 1.3084/1.3100 and surged. By the middle of the day's European trading hours, the currency exchange rate was heading to the 1.3200 mark. Note that the 1.3200 level was being strengthened by the 100-hour simple moving average.

A surge above the 1.3200 mark might surge tot eh 1.3250 mark and the upper trend line of the channel down pattern, which has guided the rate since late February. Above these levels, note the weekly simple pivot point at 1.3284 and the 200-hour simple moving average.

Meanwhile, a potential decline would have to pass the weekly S1 simple pivot point at 1.3131 and the 50-hour simple moving average. Below these levels, the 1.3084/1.3100 zone might once again stop a decline.
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Wed, 09 Mar 2022 12:25:27 GMT

USD/JPY passes resistance zone

At midnight to Wednesday, the US Dollar passed the resistance zone of the late February and early March high level at 115.70/115.80 against the Japanese Yen. Afterwards, the pair confirmed the zone as support and resumed its surge. A potential target for the rate could be the 116.00 level. Meanwhile, it was spotted that the currency pair has been surging

Wed, 09 Mar 2022 12:09:58 GMT

EUR/USD recovery approaches 1.1000

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