GBP/USD breaks pattern and declines

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Source: Dukascopy Bank SA


The GBP/USD has passed below the combined support of the lower trend line of a channel up pattern, the 1.1550 level and the 50-hour simple moving average. In the near term future, the pair is expected to find support and resistance in round exchange rate levels.

A continuation of the decline might find support in the 1.1500 mark and the 100-hour simple moving average. Further below, note the 1.1450, 1.1400 levels and the 200-hour simple moving average.

If the Pound surges against the US Dollar, the pair could find resistance at 1.1600 and the 50-hour simple moving average, prior to reaching higher round levels.
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Fri, 28 Oct 2022 12:04:06 GMT

USD/JPY reacts to central bank

Despite the massive depreciation of the Japanese Yen and currency interventions done by the Bank of Japan, the central bank has recently announced that it would stick to its monetary easing policy. The central bank has kept its short term interest rate target at -0.1% and pledged to keep the 10-year bond yield near 0.0%. Moreover, the policymakers stated that

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