GBP/USD surge ended before 1.2900

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


The last week's surge of the pair ended at the 1.2900 mark. Actually, resistance was found at 1.2885/1.2895. In the aftermath of this event, the rate kept finding support in various levels like the lower trend line of the previously active channel up pattern, the 1.2800 and 1.2750 levels and the 1.2760/1.2775 range.

However, the release of the US PPI on March 14 created a fundamental adjustment by boosting the value of the US Dollar. The GBP/USD declined below all the mentioned levels

In the near term future, the GBP/USD could look for support in the 1.2700 mark and the weekly S1 simple pivot point at 1.2703. Below these levels, the 1.2650 could turn into a support level.

On the other hand, a recovery of the Pound against the US Dollar is set to face the resistance of the 1.2750 level, the 1.2760/1.2775 range and the 200-hour simple moving average. Higher above, note the spread out technical levels in the 1.2790/1.2820 range. In that range, the 50 and 100-hour simple moving averages, the weekly simple pivot point and the August high level might impact the rate.
Back to articles

Actual Topics

Thu, 14 Mar 2024 16:13:40 GMT

USD/JPY fundamentals break pivot point

The USD/JPY has continued to face the resistance of the weekly simple pivot point at 148.03 and the 148.00 level. Meanwhile, support was found at various levels like hourly moving averages and the 147.00 and 147.50 levels. On March 14, the publication of the monthly US Producer Price Index provided the needed energy for a breaking of the weekly

Thu, 14 Mar 2024 15:38:53 GMT

EUR/USD passes below support zone

Since the last review of the EUR/USD chart, the pair fluctuated between the support range at 1.0900/1.0920 and resistance of 1.0960 and 1.0980 levels. On Thursday, March 14, the US Producer Price Index data release caused a major surge of the US Dollar. The event resulted in the rate declining below 1.0900. The ongoing decline of the Euro against the

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.