GBP/USD breaks pattern and touches 1.1500

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Source: Dukascopy Bank SA


The GBP/USD surge extended, as the UK government announced that it would not do its fiscal stimulus, as it was previously announced. The news strengthened the Pound's value. At mid-day on Tuesday, the pair broke the upper trend line of the channel up pattern, the 1.1450 level and the weekly R1 simple pivot point at 1.1483.

A move of the currency pair above 1.1500 mark would face no technical resistance as high as the weekly R2 simple pivot point at 1.1812. Due to that reason it is more likely that the currency exchange rate encounters resistance in round levels.

On the other hand, a retracement downwards might look for support in the 1.1350 level and the 50-hour simple moving average. Further below, take into account the 1.1250 and 1.1300 levels and the 100-hour simple moving average.
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Wed, 05 Oct 2022 08:33:43 GMT

USD/JPY almost reaches 143.50

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