GBP/USD trades around 1.2100

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Source: Dukascopy Bank SA


The GBP/USD is trading around the 1.2100 mark, as it has begun to await for this week's fundamental events. The US CPI, PPI and UK GDP data releases are set to guide the exchange rate during the rest of the week. However, technical levels might act as short term resistance or support.

A move of the pair upwards might encounter resistance first in the combination of the 1.2150 level and the 200-hour simple moving average. Higher above, note the 1.2200 mark, the weekly R1 simple pivot point at 1.2239 and the 1.2250 mark. Above all these levels, the July high levels are located at 1.2275/1.2295.

On the other hand, a decline of the Pound against the USD could look for support in the 1.2050 and 1.2000 levels, as it did in the aftermath of the August 5 US monthly employment data publication. Further below, the weekly S1 simple pivot point at 1.1949 and the 1.1950 are capable of acting as support and resistance.
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Tue, 09 Aug 2022 09:51:46 GMT

USD/JPY trades around 135.00

This week, the USD/JPY pair is trading around 135.00, as it awaits the release of the US Consumer Price Index on Wednesday and the Producers Price Index on Thursday. Resistance is found in a zone at 135.50 and support is provided by the 134.50 level. A surge of the USD against the Japanese Yen would have to pass the 135.50 level,

Tue, 09 Aug 2022 09:21:21 GMT

EUR/USD surges on Tuesday morning

On Tuesday morning, the EUR/USD ended its sideways trading around the 1.0200 mark with a surge. By 09:00 GMT, the rate had reached the 1.2050 mark. In the meantime, the markets were expecting the US Consumer Price Index release on Wednesday at 12:30 GMT. In general, it was expected that the whole financial markets will remain near previous levels

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