GBP/USD reacts to Bank of England

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


At 12:00 GMT on August 4, the Bank of England hiked its Official Bank rate by 0.50% from 1.25% up to 1.75%. In addition, the central bank has published its Monetary Policy Summary.

The Pound lost value due to the details of the monetary policy summary. Namely, one of the committee members did not vote for the 0.50% rate hike. Instead, the policymaker wanted only a 0.25% hike. It indicates that there has been discussion about easier monetary policy.

By 13:00 GMT, the currency pair had reached below the 1.2100 mark and remained highly volatile.

In the case of the pair extending its decline, the 1.2050 mark might act as support, prior to the rate reaching the weekly S1 simple pivot point at 1.2008 and the 1.2000 mark. On the other hand, a recovery of the Pound against the US Dollar is set to face the resistance of the weekly simple pivot point at 1.2127 and the 200-hour simple moving average near 1.2140.
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Thu, 04 Aug 2022 13:31:55 GMT

USD/JPY fails to reach above 134.50

Since Wednesday's afternoon up to the middle of Thursday's trading, the USD/JPY currency pair was testing the resistance of the 134.50 mark and the weekly simple pivot point at 134.39. By 13:00 GMT, the rate was reached by the 200-hour simple moving average, which acted as resistance. The event was followed by a decline, which pierced the support of the

Thu, 04 Aug 2022 12:59:14 GMT

EUR/USD tests resistance of 1.0200

On Wednesday, the EUR/USD dipped to the support of the weekly S1 simple pivot point at 1.0128, which together with the 1.0125 level appears to have caused a recovery. By the middle of Thursday's European trading hours, the pair had recovered and was once again testing the resistance of the 1.0200 level, the weekly simple pivot point at 1.0193

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