GBP/USD surges above expectations

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


The GBP/USD retraced back up to the 55 and 200-hour simple moving averages and the upper trend line of the channel down pattern. However, during the Asian session, the exchange rate broke the channel pattern and the resistance of the 55 and 200-hour SMAs. On Wednesday morning, the pair confirmed the previous resistance of the channel pattern as support before starting to trade between the hourly simple moving averages.

In regards to the near term future, the rate could break the resistance of the 100-hour SMA and the 1.3920 mark. In this case scenario the rate would first test the 1.3960 level and afterwards the 1.4000 mark.

On the other hand, the pair might pass the support of the 55 and 200-hour SMAs near 1.3890 and test the support of the broken pattern's resistance line.
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Wed, 17 Mar 2021 11:00:15 GMT

USD/JPY declines to 108.80

The attempts to pass the resistance of the 109.25/109.35 zone eventually failed. Afterwards the rate started a decline, which passed the support of hourly simple moving averages and the weekly simple pivot point before reaching the 108.80 level. The 108.80 mark provided support, which resulted in a recovery to the 109.20 level. At mid-day on Wednesday, the rate was located near

Wed, 17 Mar 2021 10:11:41 GMT

EUR/USD trades sideways

After a test of the resistance of the 1.1950 mark, the EUR/USD eventually declined below the support of the 1.1915/1.1910 zone. Afterwards, the pair found support in last week's low levels at 1.1882/1.1888. Since Tuesday's GMT afternoon hours, the pair was trading sideways between the two mentioned zones. In the meantime, the rate was being approached by the resistance

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