GBP/USD is back above 1.2900

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


Today, all attention will be on the US Federal Reserve Rate announcement at 18:00 GMT. The event is going to set the base rate on the USD. A hike is expected to increase the USD demand and value, but no hike would decrease it.

Prior to the event, the GBP/USD retraced back up above 1.2900 and broke resistance levels. It could be assumed that the short position holders were taking profits prior to the event.

Resistance might be found in the weekly simple pivot point at 1.2931, the 200-hour SMA and the 1.2950 mark, before the 1.3000 mark would be reached.

On the other hand, a decline of the Pound against the US Dollar could find support in the combination of the 50 and 100-hour simple moving averages near the 1.2840/1.2850 range.

However, fundamentals and, especially, Fed rate hike are above all technicals.
Back to articles

Actual Topics

Wed, 26 Jul 2023 09:34:44 GMT

USD/JPY declines before the Fed

Today, all attention will be on the US Federal Reserve Rate announcement at 18:00 GMT. The event is going to set the base rate on the USD. A hike is expected to increase the USD demand and value, but no hike would decrease it. Prior to the event, the USD/JPY declined below the 141.00 and 140.50 levels. It appeared

Wed, 26 Jul 2023 09:21:16 GMT

EUR/USD recovers before Fed rate

Today, all attention will be on the US Federal Reserve Rate announcement at 18:00 GMT. The event is going to set the base rate on the USD. A hike is expected to increase the USD demand and value, but no hike would decrease it. Prior to the event, the EUR/USD retraced back up and broke two resistance levels. 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.