GBP/USD is pushed above 1.2150

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


The US Federal Funds Rate hike and the following press conference by the Chairman of the Federal Reserve Jerome Powell caused a broad decline of the US Dollar's value. On the GBP/USD currency exchange rate it resulted in a surge above the 1.2150 level. Since the event, the pair has been trading almost sideways in the 1.2150/1.2185 range.

In the case of the rate declining below 1.2150, the pair might look for support in the 1.2100 mark, the weekly R1 simple pivot point at 1.2087 and the 50-hour simple moving average. Further below, note the 1.2050 level and the 100-hour simple moving average.

However, a potential surge of the Pound against the US Dollar might encounter resistance in the 1.2200 mark, before aiming at the upper trend line of the channel up pattern and the 1.2250 level.
Back to articles

Actual Topics

Thu, 28 Jul 2022 07:24:54 GMT

USD/JPY plummets due to Fed

On Wednesday, the value of the US Dollar plummeted despite the US Federal Funds Rate hike. The decline occurred due to comments made by the head of the Federal Reserve that they could ease the future policy of rate hikes. Due to that reason, the USD adjusted to the possible future of a smaller demand for the US currency. On the

Thu, 28 Jul 2022 06:35:00 GMT

EUR/USD finds support in 1.0100

The EUR/USD currency pair found support in the 1.0100 mark and the weekly S1 simple pivot point at 1.0101. In the aftermath of starting a minor recovery, the EUR/USD surge was boosted by the head of the US Federal Reserve Jerome Powell. Namely, the Chairman's comments during the press conference after the US 0.75% rate hike caused a broad

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.