GBP/USD trades around 1.2400

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Source: Dukascopy Bank SA


As the title suggests, the GBP/USD has continued to remain near the 1.2400 mark. The pair appears to be waiting for this week's central bank rate hikes, as both the US Federal Reserve and the Bank of England are set to announce rates during this week.

A potential decline of the currency pair would have to pass below the weekly simple pivot point at 1.2369 and the 100 and 200-hour simple moving averages. Further below, note that the 1.2350 level has acted as support.

On the other hand, a recovery of the GBP/USD is expected to face resistance at 1.2400 and 1.2420, before reaching the resistance zone at 1.2435/1.2450.
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Mon, 30 Jan 2023 15:19:07 GMT

USD/JPY continues to trade near 130.00

The USD/JPY is ignoring the technical levels like the weekly simple pivot point and hourly moving averages. The reason for the moves is the fact that the pair is waiting for the Wednesday's US Federal Reserve Rate hike. The move above 130.00 could face resistance in the 130.50 and 131.00 levels. Both of these levels have recently acted as resistance.

Mon, 30 Jan 2023 15:07:19 GMT

EUR/USD remains near 1.0900

The EUR/USD appears to be waiting for the Federal Reserve rate hike and press conference by trading near the 1.0900 level. Resistance is found at 1.0920/1.0925 and support is located at 1.0835/1.0840. A surge of the Euro against the US Dollar might encounter resistance in the weekly R1 simple pivot point at 1.0918 and the 1.0920/1.0925 range. Higher above,

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