GBP/USD resistance holds

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Source: Dukascopy Bank SA


The resistance zone, which is located near the 1.2050 mark, has held and caused a decline to the range at 1.1960/1.1970 and the 2019 low level. However, during the early hours of Thursday's European trading hours the rate appeared to be passing below the support zone.

A potential extension of the decline of the Pound against the US Dollar might look for support in the 1.1950 mark and the 100-hour simple moving average. Further below note the 200-hour SMA near 1.1915 and the 1.1900 level.

However, a move higher by the GBP/USD could encounter resistance in the 1.2000 mark and the 1.2035/1.2055 zone.
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Thu, 21 Jul 2022 08:06:32 GMT

USD/JPY recovers above 138.50

During the early hours of Thursday's European trading, the USD/JPY currency pair reached above the 138.50 mark, as it continued its recovery that was started on Tuesday. The next target for the recovery might be the 139.00 level. Above the round exchange rate level note the 2022 high level zone at 139.35/139.38. However, a possible decline of the US Dollar against the

Thu, 21 Jul 2022 07:19:46 GMT

EUR/USD retreats below 1.0200

The resistance of the 1.2070/1.2080 zone managed to hold and cause a decline, which eventually resulted in the EUR/USD declining below the 1.0200 mark. In general, on Thursday, technical analysis is set to be worthless, as today at 12:15 GMT the European Central Bank is set to hike its base interest rate and make a monetary policy statement. The

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