GBP/USD remains in pattern

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


The pair has been declining by closely trailing the lower trend line of the channel down pattern. Throughout the first part of Wednesday's trading, the trend line kept the rate up.

Eventually, the decline of the Pound against the US Dollar might find support and start a recovery. A potential recovery could face resistance in the weekly S1 simple pivot point at 1.2170 and the 50-hour simple moving average. Higher above, note the approaching 100-hour SMA and the 1.2200 mark.

On the other hand, a decline of the rate further should be gradual, as the lower trend line of the pattern holds. The slow decline or a sudden breaking of the pattern is set to look for support in the 1.2100 mark and the weekly S2 simple pivot point at 1.2103.
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Wed, 27 Sep 2023 13:11:25 GMT

USD/JPY breaks pivot point

The USD/JPY consolidated above the 148.80 level and the weekly R1, as it was approached by the support of the 50-hour simple moving average. The SMA managed to push the rate higher and through the weekly R2 simple pivot point's resistance at 149.18. Note that the pivot point might have failed due to the consolidation and the fact

Wed, 27 Sep 2023 12:57:18 GMT

EUR/USD decline continues

As the EUR/USD rate was being approached by the resistance of the 50-hour simple moving average, the rate resumed its broader decline. By mid-Wednesday, the currency pair had reached below the support of the 1.0550 level and the weekly S2 simple pivot point at 1.0543. A continuation of the decline is set to look for support in the 1.0500 mark,

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