GBP/USD reacts to UK CPI

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


The GBP/USD fluctuated sideways and even recovered on Tuesday to the 1.3100 mark. However, on Wednesday morning, the UK CPI was published.

Inflation in the United Kingdom is even lower than expected. Monthly inflation measured year-on-year is just 1.7% instead of the expected 1.9%. Moreover, it is a decline from 2.2% in the prior month.

In regard to the future, a decline is finding support in the 1.3000 mark and the weekly S1 simple pivot point at 1.3014. Further below, note that the 1.2980 level appears to have acted as support. Further below, note the 1.2960 level and the weekly S2 simple pivot point.

On the other hand, a recovery of the Pound against the US Dollar is set to face the combination of the 50 and 100-hour simple moving averages near 1.3050. Higher above, note the combination of the weekly simple pivot point at 1.3074 and the 200-hour simple moving averages. If these levels fail, note the 1.3100/1.3115 zone.
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Wed, 16 Oct 2024 14:21:52 GMT

USD/JPY fails to breach 150.00

The 150.00 mark has held, and a decline has occurred. The decline has passed below the 149.50 level and the combination of the 50 and 100-hour simple moving averages. However, it appears that the 149.00 level, despite being pierced, has provided support. In the near term future, the pair is expected to make another attempt to pass the 150.00 mark

Wed, 16 Oct 2024 13:35:30 GMT

EUR/USD retreats below 1.0900

The support of the 1.0900 has failed. In the aftermath of the event, the rate is confirming the level as resistance. From a fundamental perspective, the EUR/USD is waiting for the ECB announcement that is set for Thursday afternoon. In the case of a proper decline, the rate could look for support in the weekly S1 simple pivot point

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