GBP/USD finds support in 1.2300

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


The GBP/USD found support in the 1.2300 mark on Monday, and recovered to the resistance of the 50-hour simple moving average on Tuesday.

A move below 1.2300 could result in the rate looking for support in the weekly S2 simple pivot point at 1.2280, the 1.2250 level and afterwards the combination of the 1.2200 mark and the weekly S3 simple pivot point at 1.2193.

In the case of a recovery of the Pound against the US Dollar, the rate is expected to encounter resistance in the 1.2380 and 1.2400 levels, as these levels have acted as support and resistance during the recent past. Above these levels, the 1.2410/1.2425 range could turn into resistance.
Back to articles

Actual Topics

Tue, 23 Apr 2024 10:06:37 GMT

USD/JPY reaches new high

Despite piercing the support range at 153.85/153.95, the USD/JPY returned to trade above it and eventually surged. On Monday, the rate was once again testing the 154.70/154.80 range. Meanwhile, support appeared to be provided by the 50 and 100-hour simple moving averages near 154.50. On Tuesday, the rate passed above the 154.70/154.80 range. However, it was still confirming the range

Tue, 23 Apr 2024 09:45:58 GMT

EUR/USD gets a boost from fundamentals

The European Union country Purchasing Managers Indices were released from 07:15 GMT up to 08:00 GMT. In general, the event caused a surge of the Euro. However, the move was stopped by the 1.0675/1.0690 range and the weekly R1 simple pivot point at 1.0695. In general, the markets expected that the Manufacturing and Services sectors are doing badly. Although,

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.