GBP/USD respects pattern

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


The GBP/USD bounced off the combined support of the weekly S2 at 1.2447 and the lower trend line of the channel down pattern. During the early hours of Friday's trading, the pair reached the upper trend line of the pattern near 1.2500 and appeared to have resumed the broader decline.

A continuation of the Pound's decline against the US Dollar is expected to look for support once again in the 1.2447 level, where the weekly S2 simple pivot point is located. Further below, note the 1.2400 mark and the lower trend line of the channel down pattern.

However, in the case of the rate recovering, the 50-hour SMA, the 1.2500 mark, the upper trend line of the channel and the weekly S1 at 1.2515 are expected to act as resistance. Higher above, note the 100-hour SMA near 1.2542 and the 1.2548/1.2579 range.
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Actual Topics

Fri, 08 Sep 2023 11:35:34 GMT

USD/JPY retracement almost reaches 146.50

The USD/JPY passed below 147.00 and almost reached the 146.50 level, before starting a recovery. By mid-Friday, the currency pair had almost reached the 147.50 level and the weekly R1 simple pivot point. A move above 147.50 and the weekly R1 simple pivot point at 147.54 could result in another test of the 147.80/147.87 range. This range acted as resistance

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