GBP/USD adjusts to central bank

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


In general, the GBP/USD continued to fluctuate above the 1.2800/1.2820 range until the morning before the publication of the Bank of England Official Bank Rate. During the morning hours, the markets pushed the rate down by as much as 100 points. As the rate was released, the GBP/USD recovered only to find resistance in the 1.2800/1.2820 zone.

In the near term future, the rate could decline to the support of the 1.2735/1.2750 range and the weekly S3 simple pivot point at 1.2733. Further below, the 1.2700 mark is expected to once again act as support.

On the other hand, a move above 1.2800/1.2820 might be slowed down by the weekly S1 simple pivot point, the 50 and 100-hour simple moving averages and the 1.2860 level that has shown to be capable to act as resistance. In addition, the 200-hour SMA was approaching the 1.2860 level and the weekly simple pivot point is located at 1.2885. If all of these levels fail, the 1.2900 level might come into play.
Back to articles

Actual Topics

Thu, 01 Aug 2024 15:08:50 GMT

USD/JPY reaches below 150.00

The rate hike done by the Bank of Japan pushed the USD/JPY down to the support of the 150.00 mark. However, the post event recovery was short-lived, as the central bankers revealed more tightening. As the information spread, the USD/JPY reached a new low level by shortly piercing the 149.00 level. By mid-Thursday, the rate was fluctuating around the

Thu, 01 Aug 2024 12:40:03 GMT

EUR/USD reaches below 1.0800

The EUR/USD appears to have waited the Federal Reserve announcement in the range between 1.0800 and 1.0850 with some price action being caused by the 1.0825/1.0830 range and the release of the European CPI. However, the top event still was the Fed. After the Fed not announcing anything new, the EUR/USD has picked a direction. On Thursday, the currency

Subscribe to "Fundamental Analysis" feed

Subscribe
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
For further information regarding potential cooperation,
please call us or make callback request.
Aby dowiedzieć się więcej o Opcjach Binarnych w Banku Dukascopy / platformach handlowych Forex, SWFX, oraz innych,
zadzwoń do nas lub pozostaw prośbę o oddzwonienie.
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
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.