GBP/USD approaches resistance zone

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


Prior to the US Consumer Price Index release, the GBP/USD approached the resistance zone at 1.1175/1.1180. Future direction depends on the US CPI at 12:30 GMT.

A lower than expected inflation reading would result in a surge above 1.1175/1.1180, the 200-hour simple moving average, the 1.1200 mark and the weekly simple pivot point at 1.1215. Higher above, note the 1.1250, 1.1300 and 1.1350 levels.

However, a higher than expected inflation is set to beat the GBP/USD down. The rate could look for support in the 50 and 100-hour simple moving averages near 1.1050, before reaching this week's low level at 1.0920/1.0935.
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Thu, 13 Oct 2022 10:12:20 GMT

USD/JPY respects pattern

First of all, the surge of the USD/JPY has respected the upper trend line of the channel up pattern. However, the trend line might have been strengthened by the 147.00 level. Since the event, the rate retraced to the combined support of the weekly R2 simple pivot point at 146.64 and the 146.65 level. Up to mid-Thursday, the rate was

Thu, 13 Oct 2022 10:01:55 GMT

EUR/USD trades in range

As the EUR/USD waited for the US CPI release on Thursday at 12:30 GMT, the pair remained in previous range. The future direction will be set by the macroeconomic data release. High inflation will beat the rate down and low inflation will cause a surge. A move down by the Euro against the USD lower would look for support first

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