GBP/USD plummets like a brick

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Source: Dukascopy Bank SA
GBP/USD plummeted like a brick on Tuesday. The financial media blamed Brexit fears. Although, it could be spotted that the move most likely had a fundamental cause that was strengthened by the passing of the support levels and sentiment numbers indicating that the rate was already overbought by the retail sector.  

Next up the pair is expected to test the support levels near 1.2450. This round levels has shown itself in the past as a significant one. 

Meanwhile, note that Dukascopy Analytics will investigate the cause of the decline and publish an Expert Commentary publication on our website and send it through the newsletters.
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Tue, 16 Jul 2019 10:19:45 GMT

USD/JPY remains above 107.80

The USD/JPY on Tuesday morning remained above the support of the round level of 107.80 and the monthly pivot point at 107.84. The rate had even made an attempt to surge and test the resistance of the 55-hour simple moving average.  

Tue, 16 Jul 2019 10:07:06 GMT

EUR/USD passes support levels

On Tuesday morning, the EUR/USD was declining below the support levels at 1.1250. In general, the rate passed its technical support levels during the moments that they stood each on its own.

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