GBP/USD approaches 1.6075/85 level Dukascopy

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The GDP number was strong enough to rule out further monetary stimulus at the November BOE meeting and some of that is in the price for sterling already. More resilience from upcoming U.K. data releases would help sterling consolidate"
- Citygroup (Based on Reuters)

Pair's Outlook
As we predicted yesterday, GBP/USD retreated back and is around a 1.6075/85 level, where the 55-day SMA and the monthly PP levels go. Now the situation and a further movement depends on which side of this level the price will settle. Next resistance levels are: the Bollinger band at 1.61450 and the downtrend line with the weekly R1 line at 1.6180. A lower support level is the weekly S1 with the Bollinger line at 1.5951.

Traders' Sentiment
SWFX market players sentiments do not change already for a few days and stay strongly bearish, as 36% have a long position and 64% have a short position. Placed orders market shows equal distribution between orders, 48% pending orders are buy and 52% are sell.

© Dukascopy Bank SA
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Actual Topics

Wed, 31 Oct 2012 08:18:03 GMT

USD/JPY tests 200-day SMA at 79.61 Dukascopy

As yesterday USD/JPY pair experienced a spike down after the Japanese central bank decision on easing policy, the price has retreated and closed just above the 200-day SMA level. Today the prices continues decrease and approaches same level at 79.61. If this movement is successful, than we might expect a further price decrease and 79.07/12 level testing.

Wed, 31 Oct 2012 08:17:37 GMT

EUR/USD is back to test 1.2963/73 area

As we can see from a graph, the 200-day SMA level at 1.2900 was strong enough to stop a EUR/USD decrease and push the pair up to check the 1.2963/73 area, where the 20-day SMA and the weekly PP lie. However, this currency pair forms a taper triangle with a narrowing range of fluctuation, together with all time frames RSI

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