Dukascopy Bank Team
Dukascopy Bank SA
GBP/USD
Yesterday, the GBP/USD exchange rate jumped to the 1.3060 level. During Friday morning, the rate reversed south.
It is likely that the currency pair could gain support of the monthly S1 at 1.3021 and reverse north in the nearest future. In this case the pair could face the resistance formed by the weekly R1 at 1.3089.
However, if the given support does not hold, it is likely that some downside potential could prevail. Note that the exchange rate would have to surpass the support cluster formed by the 55-, 100– and 200-hour SMAs, as well the weekly PP in the 1.2970/1.3000 area.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
Latest Forex Analysis
Editors’ Picks
EUR/USD trying to set an interim bottom
EUR/USD has been consolidating around 1.0800 for a second consecutive day, ignoring risk-off and broad dollar’s demand. The case for a corrective advance becomes stronger.
USD/JPY stabilizes around 112.00 fresh 2020 highs
The USD/JPY pair has finally stalled at 112.22 but holds on to most of its latest gains. Buyers defending the downside in the 111.60/70 price zone.
AUD/USD at an over one-decade low near 0.6600
An uptick in the Australian unemployment rate, moving further away from RBA’s desired 4.5% level took its toll on the Aussie, also pressured by ruling risk-off.
Gold jumps to the highest level since February 2013, around $1620 area
Gold reversed an early dip to the $1604 area and jumped to fresh multi-year tops during the mid-European session on Thursday.
FXStreet launches Real-Time Trading Signals
FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.