GBP/USD trades in channel

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


The GBP/USD currency pair has revealed that in the first part of July it has been surging in a channel up pattern. Meanwhile, it has been observed that the 50, 100 and 200-hour simple moving averages are quite often managing to impact the rate's direction.

A continuation of the surge in the pattern might be slowed down by weekly simple pivot point levels or round exchange rate levels. Eventually, the pair is set to test the resistance zone at 1.2840/1.2850, which marks the June high levels.

On the other hand, a decline of the Pound against the US Dollar could look for support in the 50, 100 and 200-hour simple moving averages, which are located in the borders of the channel pattern. In addition, if the pattern would be broken to the downside, note the support zone at 1.2590/1.2600.
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Fri, 07 Jul 2023 09:13:38 GMT

USD/JPY drops below 143.00

The USD/JPY decline continues. On July 7, the pair passed below the 143.00 level, signalling that the decline of the US Dollar is set to continue. The rate was expected to soon reach the support zone at 142.70/142.80. A decline below 142.70 is expected to find support in round exchange rate levels like 142.50 and 142.00. In general, this rate

Fri, 07 Jul 2023 08:51:37 GMT

EUR/USD respects support zone

The 1.0835/1.0840 range has continued to act as support. Meanwhile, the currency exchange rate has respected the combined resistance of the 1.0900 mark and the 200-hour simple moving average. A decline of the pair below the 1.0835/1.0840 range is most likely going to look for support in round exchange rate levels and areas near them. This is assumed due to

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