GBP/USD is below 1.2500

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


Throughout this week, US inflation was revealed to be higher than expected, despite rising inflation was already expected. This indicates that the FED has to hike rates, which is strengthening the USD. Meanwhile, there was no help to the GBP from the UK GDP release on Friday morning. The published data revealed that GDP has increased by 0.1%, as forecast by economists.

These events resulted in a broad decline of the GBP against the US Dollar throughout the week. On Friday, the rate was heading to the support of the weekly S2 simple pivot point near 1.2475.

A move below the weekly S2 simple pivot point could aim at the weekly S3 simple pivot point at 1.2412 and the 1.2400.

On the other hand, a recovery of the Pound could result in the rate testing the 1.2520 and 1.2540 levels. Higher above, note the combination of the 1.2560 level, the weekly S1 simple pivot point at 1.2556 and the descending 50-hour simple moving average. Higher above, note the 1.2600 mark 100 and 200-hour simple moving averages at 1.2610 and the weekly simple pivot point at 1.2620.
Back to articles

Actual Topics

Fri, 12 Apr 2024 11:34:17 GMT

USD/JPY breaks 2022 high

Throughout this week, US inflation was revealed to be higher than expected, despite rising inflation was already expected. This indicates that the FED has to hike rates, which is strengthening the USD. Meanwhile, the Bank of Japan has ruled out that it could hike interest rates to stop the decline of the currency. The central bank is more concerned

Fri, 12 Apr 2024 09:56:03 GMT

EUR/USD declines below 1.0700

Throughout this week, US inflation was revealed to be higher than expected, despite rising inflation was already expected. This indicates that the FED has to hike rates, which is strengthening the USD. Meanwhile, the ECB is preparing to cut rates, as this week's ECB events have revealed that the worse off EU countries are pressuring the monetary policy committee

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.