GBP/USD passes resistance levels

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Source: Dukascopy Bank SA


On Wednesday, the GBP/USD currency exchange rate passed above the technical levels that are spread out from 1.2325 up to 1.2350. However, the move was followed by a consolidation in the 1.2300/1.2360 range.

A resumption of the surge of the Pound against the US Dollar might result in the pair testing the resistance of the weekly R2 simple pivot point at 1.2423. Although, note that the 1.2400 mark could act as resistance.

On the other hand, a decline of the currency pair would look for support in the 50, 100 and 200-hour simple moving averages and the 1.2250 and 1.2300 levels.
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Wed, 29 Mar 2023 14:38:01 GMT

USD/JPY jumps above 132.50

At the start of Wednesday's trading, the USD/JPY started a surge, which by mid-day resulted in the rate reaching from 131.00 up to 132.50. Near 132.50, the pair encountered resistance in the weekly R1 simple pivot point at 132.59. A move above the weekly R1 simple pivot point at 132.89 could result in the pair testing the 133.00, 133.50 and 134.00

Wed, 29 Mar 2023 14:18:26 GMT

EUR/USD reaches above 1.0850

Step by step, the EUR/USD moves higher, as the pair has reached above 1.0850 on Wednesday. An extension of the ongoing decline might encounter resistance in the 1.0900 level, prior to testing the combined resistance of the weekly R1 simple pivot point at and the 1.0910/1.0930 range. On the other hand a decline of the Euro against the US Dollar

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