GBP/USD faces pattern's resistance

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


The surge of the GBP/USD currency pair has continued, as the pair has reached the upper trend line of the channel up pattern. On Monday, the pattern's trend line was pierced. However, after the event, the pair returned to the 1.2950 level.

A continuation of the surge would have to break the channel's trend line, before approaching the resistance of the 1.3000 mark and the weekly R1 simple pivot point at 1.3009. If the pair moves above the 1.3000 level, the pair might stop at the 2024 high level at 1.3045.

In the case of a decline of the Pound against the US Dollar, support is expected to be looked for in the 1.2900 mark and the 50-hour simple moving average. In addition, take into account the weekly simple pivot point at 1.2878 and the 100-hour SMA. If these levels fail to hold, the 1.2850/1.2870 range is expected to act as support.
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Mon, 19 Aug 2024 12:23:50 GMT

USD/JPY passes support ranges

As the market started the week's trading, the Yen strengthened during the Asian trading hours. By the time Europe woke up, the move had resulted in the USD/JPY rate reaching below the 145.50 level. However, buying started and by midday the rate was testing the resistance of the 146.00/146.50 range. If the pair resumes the prior decline, support is expected

Mon, 19 Aug 2024 12:10:39 GMT

EUR/USD passes prior high range

On Friday, the EUR/USD managed to pass the 1.1000 mark's resistance on the second attempt. By mid-Monday's trading, the rate had managed to move above the prior August high level range near 1.1040. However, the 1.1050 mark had acted as resistance, which indicates that the resistance range is broader than previously marked. A potential surge above 1.1050 could be slowed

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