GBP/USD once again trades near 1.2700

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


The decline of the GBP/UD has reached below the 1.2700 mark. However, it appears that the rate could soon consolidate.

Namely, the traders who shorted the drop from 1.2900 to 1.2670 appear to be taking profits, which is causing a surge. Profits are being taken due to the upcoming US and UK central bank rate announcements. Despite market expectations, the two events are bound to cause volatility. Moreover, surprises are still possible and could cause a technical trader major losses.

A potential surge of the Pound against the US Dollar is set to face resistance in the 1.2720 level and the 50-hour simple moving average. Higher above, note the 100-hour simple moving average and the 1.2740 level. Above these two combinations resistance is expected to be found in the upper trend line of the channel down pattern and the 1.2760/1.2773 range together with the weekly simple pivot point.

In the case of a resumption of the decline, it could be slowed down by the lower trend line of the channel pattern and the weekly S1 and S2 simple pivot points at 1.2683 and 1.2636. Further below, the notable 1.2590/1.2610 range is highly likely going to act as support.
Back to articles

Actual Topics

Tue, 19 Mar 2024 12:19:31 GMT

USD/JPY surges despite BoJ rate hike

The rate is already reacting to central bank announcements. On Tuesday, the Bank of Japan ended eight years of negative interest rates by hiking to 0.10%. This is the first Japanese rate hike in 17 years. In theory, the rate hike should have strengthened the Japanese Yen. However, after a short lived move downwards, the USD/JPY surged and reached

Tue, 19 Mar 2024 11:55:43 GMT

EUR/USD bounces off resistance

After declining below 1.0900/1.0920 range, the EUR/USD returned to the range and confirmed it as resistance at mid-Monday. The event was followed up by a decline that during the first half of Tuesday had reached the 1.0840 level. In general, the pair could soon consolidate due to the upcoming United States Federal Reserve rate hike that is scheduled for

Subscribe to "Fundamental Analysis" feed

Subscrever
Para saber mais sobre a plataforma de negociação Dukascopy Bank CFD / Forex, SWFX e outras informações relacionadas com negociação,
por favor entre em contato conosco ou faça um pedido de retorno de chamada.
Para obter mais informações sobre uma potencial cooperação,
ligue-nos ou faça-nos um pedido para ser contactado.
Para saber mais sobre as opções binárias do Dukascopy Bank / Plataforma de negociação Forex, SWFX e outras informações relacionadas com Trading,
ligue-nos ou faça-nos um pedido para ser contactado.
Para saber mais sobre a plataforma de negociação Dukascopy Bank CFD / Forex, SWFX e outras informações relacionadas com negociação,
por favor entre em contato conosco ou faça um pedido de retorno de chamada.
Para saber mais sobre a plataforma de Trading / Trading de Crypto/ CFD / SWFX e outras informações relacionadas à negociação,
ligue-nos ou faça-nos uma pedido para ser contactado.
Para saber mais sobre o programa de Introdutor de Negócios e outras informações relacionadas à negociação,
ligue-nos ou faça-nos uma pedido para ser contactado.
Para obter mais informações sobre uma potencial cooperação,
ligue-nos ou faça-nos um pedido para ser contactado.