GBP/USD is highly volatile due to fundamentals

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


The GBP/USD has jumped due to the higher than expected UK inflation data release at 06:00 GMT. Namely, it indicated that the Bank of England has to hike rates even more to stop inflation. However, two hours later, the US St. Louis Federal Reserve President Bullard stated that there is no upcoming recession and the US Fed will continue to hike rates. The announcement boosted the USD.

On the GBP/USD charts it resulted in a jump from 1.2400 up to 1.2470 and a move back down to 1.2400.

A continuation of the decline of the GBP/USD could look for support in the low level zone at 1.2345/1.2355. Further below, note the weekly S1 at 1.2320 and the 1.2300 level.

However, a recovery of the Pound against the US Dollar could be slowed down by the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point at 1.2434, prior to reaching the recent high at 1.2470.
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Wed, 19 Apr 2023 10:04:37 GMT

USD/JPY respects support zone

The USD/JPY has respected the support of the 133.87/134.00 zone. The zone was strong enough to cause another surge. By mid-Wednesday, the pair had reached and pierced the 135.00 mark. A proper move above 135.00 could encounter resistance in the weekly R2 simple pivot point at 135.42 and the 135.50 level. Higher above, note the 136.00 mark. On the other hand, a

Wed, 19 Apr 2023 09:46:46 GMT

EUR/USD remains below 1.1000

The EUR/USD has revealed a support and resistance zone. Most recently, the pair bounced off the resistance of the 1.0982/1.0984 range. On Wednesday morning, the pair passed the combination of the weekly simple pivot point and the 50 and 200-hour simple moving averages. The ongoing decline of the pair is expected to look for support in the 1.0910 level,

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