GBP/USD reaches below 1.2300

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Source: Dukascopy Bank SA


At mid-day on Wednesday, the US Consumer Price Index caused a drop of the GBP/USD, which shortly reached below the 1.2300 mark. However, the rate almost immediately recovered to trade back near the 1.2350 level.

If the pair clearly declines below 1.2300 the pair could find support in the 2020 July low level at 1.2260. Further below, support is highly likely going to be provided by 1.2250 and the weekly S1 simple pivot point at 1.2197 together with the 1.2200 level.

Meanwhile, a recovery of the Pound against the US Dollar would have to pass the 1.2400 mark, the April low levels at 1.2413/1.2423 and the weekly simple pivot point at 1.2417. Note that the pair ignored the resistance of the 100-hour simple moving average, which approached from above.
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Wed, 11 May 2022 13:44:09 GMT

USD/JPY reacts to US CPI

On Wednesday, the United States Labour Statistics Bureau released the monthly US Consumer Price Index and Core Consumer Price Index data for April. The markets expected the data for clues in regards to the effectiveness of the first US Federal Reserve Rate hike done on March 15. At 12:30 GMT, the CPI and Core CPI came in at 0.3% and

Wed, 11 May 2022 13:19:10 GMT

EUR/USD remains above 1.0500 despite CPI

On Wednesday, the United States Labour Statistics Bureau released the monthly US Consumer Price Index and Core Consumer Price Index data for April. The markets expected the data for clues in regards to the effectiveness of the first US Federal Reserve Rate hike done on March 15. At 12:30 GMT, the CPI and Core CPI came in at 0.3%

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