GBP/USD remains in range

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


The GBP/USD failed to pass the resistance zone near the 1.3900 level. Namely, the rate bounced off exactly the 1.3900 mark. This was followed by a decline to the support zone of the July 13 and 14 low levels just above the 1.3800 mark.

Meanwhile, note that, by large, the rate ignores the hourly simple moving averages.

In the near term future, the rate was expected to trade between the 1.3800 and 1.3900 levels despite the high volatility range of 100 base points. Eventually, the rate would break out of this range.

A break out above the 1.3900 level would face the resistance of the 1.3950 mark and the weekly R1 simple pivot point at 1.3963. Above these levels, the 1.4000 mark would provide resistance.

On the other hand, a decline below 1.3800 would immediately test the support of the weekly S1 simple pivot point at 1.3796. Afterwards, the rate would have no support as low as the July low levels near 1.3740.
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Actual Topics

Fri, 16 Jul 2021 06:57:25 GMT

GBP/JPY likely to maintain channel

On Thursday, the British Pound fell by 103 pips or 0.68% against the Japanese Yen. The currency pair was pressured lower by the 50– and 200– hour SMA during Thursday's trading session.

Fri, 16 Jul 2021 06:43:23 GMT

EUR/USD bounces off 1.1850

The recovery of the EUR/USD failed to pass the resistance of the 1.1850 mark. It resulted in a decline, which eventually found support in the 1.1800 level. On Friday morning, the rate was trading sideways above the 1.1800 level. In the case that the rate recovers it would face the resistance of the 55-hour simple moving average at 1.1815 first.

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