GBP/USD reacts to central banks

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


The Bank of England has once again hiked its base interest rate. Official Bank Rate has been increased from 4.00% up to 4.25%, as the market expected. In the meantime, note that seven out of the nine BOE Monetary Policy Committee members voted for the 0.25% rate hike. Two members voted to keep interest rates intact.

Meanwhile, the US Federal Reserve hiked its rate by also 0.25% on Wednesday. Despite the similar rate hikes, the GBP/USD has surged and by mid-Thursday was located at 1.2300.

An extension of the ongoing upwards move might aim at the resistance of the 1.2350 and 1.2400 levels, prior to reaching the weekly R3 simple pivot point at 1.2440. However, a potential decline is expected to look for support in the February high at 1.2270 and the combination of the 50 and 100-hour simple moving averages and the weekly R1 simple pivot point near 1.2250.
Back to articles

Actual Topics

Thu, 23 Mar 2023 12:22:42 GMT

USD/JPY respects round levels

Despite the US rate hike impacting the USD/JPY, the fundamental event appears to have only set the direction of the rate. Namely, the pair still finds support in round exchange rate levels. On Thursday, the 130.50, 131.00 and 131.50 were acting as support and resistance. A surge of the US Dollar against the Japanese Yen would have to reach above the

Thu, 23 Mar 2023 11:55:47 GMT

EUR/USD reaches above 1.0900

The EUR/USD has reacted to the Federal Reserve Rate hike of 0.25% and the following comments of the head of the central bank Jerome Powell. In general, the central bank plans no rate cuts. In regards to further hikes the central bankers would continue to watch inflation data. The pair reacted to the news with a surge. The surge

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.