GBP/USD decline approaches 1.2400 level

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


The GBP/USD decline has continued, as the pair has passed below 1.2500 and the weekly S3 simple pivot point at 1.2474. During the mid-day hours of Thursday's trading, the pair confirmed the pivot point as resistance and continued to decline. In the near term future, the pair was expected to look for support in the 1.2400 level and the lower trend line of the narrow channel down pattern, which has guided the pair since April 22.

A move below the 1.2400 level and the lower trend line of the channel down pattern, would have no technical support. Namely, the pair is approaching early 2020 coronavirus low levels.

On the other hand, a recovery of the Pound against the US Dollar might encounter resistance in the weekly S3 simple pivot point at 1.2474, before testing the resistance of the 1.2500 level.
Back to articles

Actual Topics

Thu, 28 Apr 2022 15:08:21 GMT

USD/JPY reaches above 131.00 due to BoJ

On Thursday morning, the USD/JPY pair was testing the resistance zone, which surrounds the 129.00 level. At 03:11 GMT, the Bank of Japan revealed that it would continue its monetary easing policy despite the low value of the Japanese Yen. The announcement resulted in a jump of the rate by 1.00%, which was followed by a surge to the 131.00

Thu, 28 Apr 2022 14:49:21 GMT

EUR/USD decline extends below 1.0500

On Thursday, the EUR/USD passed below the 1.0500 level. Meanwhile, the rate had revealed that since April 21 the pair has been declining in a narrow channel down pattern. A continuation of the decline would have no additional technical support, as the pair is below the 50, 100 and 200-hour simple moving averages and the weekly simple pivot points. Due

Subscribe to "Fundamental Analysis" feed

Subscribe
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (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.
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (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.