GBP/USD extends decline

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


The decline of the GBP/USD eventually stopped on Wednesday. Namely, the rate found support in the 1.3415 level and retraced back up to the weekly S3 simple pivot point at 1.3463. Up to early hours of Thursday's trading, the pair fluctuated sideways in the 1.3415/1.3463 zone.

In theory, the rate should continue to decline, as it has no technical or historical price support levels close by. However, take into account that round exchange rate levels like the 1.3400, 1.3350 and 1.3300 could provide support and stop a decline.

On the other hand, the GBP/USD can be considered oversold, as it has left far above it the hourly simple moving averages. The most close by SMA was the 55-hour SMA at the 1.3530 level. Note that a potential recovery to the SMA would face the resistance of the weekly S3 simple pivot point at 1.3463.
Back to articles

Actual Topics

Thu, 30 Sep 2021 07:44:00 GMT

USD/JPY finds support in SMA

After breaking the channel up pattern, the USD/JPY declined. However, the decline was short, as the pair found support in the 55-hour simple moving average. The SMA provided enough support to cause a surge, which reached the 112.00 level. By the middle of Thursday's trading, the currency exchange rate fluctuated sideways below the 112.00 mark. In the near term future, the

Thu, 30 Sep 2021 07:21:42 GMT

EUR/USD drops below 1.1600

At mid-day on Wednesday, the EUR/USD plummeted, as it passed one weekly simple pivot point after another until it found support in the 1.1590 level. By Thursday's European morning hours, the rate had been consolidating by trading sideways between the 1.1590 and 1.1610 levels. In the near term future, the rate was most likely going to decline, as it

Subscribe to "Fundamental Analysis" feed

Subscribe
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.