GBP/USD passes resistance levels

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


The GBP/USD started the week with a sharp surge, which broke various resistance levels. By the middle of Monday's European trading hours, the pair had reached above the 1.3840 level.

In the meantime, the rate's recent surge revealed a channel up pattern. The pattern captures the rate's surge, which has been occurring since March 25. The channel's borders could provide both resistance and support.

In regards to the near term future, the pair was highly likely going to extend the surge and eventually reach for the resistance of the weekly R1 simple pivot point at 1.3892. However, the rate could also consolidate by trading sideways above the support of the 1.3810/1.3820 zone and the 200-hour simple moving average.
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Mon, 29 Mar 2021 11:19:45 GMT

USD/JPY reaches target

The USD/JPY reached the June high level at 109.83 where a 61.80% Fibonacci retracement level is located at. The rate reached the target faster than forecast, as the pair broke the narrow channel up pattern, which had guided the rate before. Afterwards, two attempts to pass the Fibonacci retracement level were made and both failed. By the middle of Monday's

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EUR/USD remains below 1.1800

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