GBP/USD finds support in 1.2500

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Source: Dukascopy Bank SA


Despite piercing resistance zone above 1.2660, the GBP/USD declined after the week's fundamental events. Eventually, the decline found support in 1.2500 and was observed to be recovering. At mid-Friday, the pair appeared to be encountering resistance in 1.2540.

A move above 1.2540 is expected to face resistance in the weekly simple pivot point at 1.2571, the 50, 100 and 200-hour simple moving averages. Higher above, note that the pair could be impacted by the 1.2650/1.2670 range.

However, a decline of the Pound against the US Dollar is going to look for support in the 1.2500 mark and the weekly S1 simple pivot point at 1.2489. Further below, note the 1.2400 mark and the weekly S2 at 1.2354.
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Fri, 12 May 2023 12:06:05 GMT

USD/JPY returns to 135.00

Despite dipping during the US fundamental events that occurred during this week, the USD/JPY has recovered and returned to the 135.00 mark. A move above the 135.00 level and the 200-hour simple moving average could encounter resistance in the 135.30/135.50 range. Higher above note the 136.00 level. Meanwhile, a potential decline could look for support in the 134.50 level and the

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