Dukascopy Bank Team
Dukascopy Bank SA
GBP/USD
On Tuesday, the GBP/USD made another attempt to pass the zone above the 1.3900 marks. In the meantime, the rate revealed on Monday that the zone near 1.3840 manages to provide support.
In the near term future, the pair could be pushed up by the support of the 55, 100, and 200-hour simple moving averages. A potential surge could once again test the resistance of the 1.3900 zones. A passing of the zone could result in the rate reaching the weekly R1 simple pivot point at 1.3963.
Meanwhile, a decline would look for support in the 1.3840 level, which reversed the pair's Monday decline. A decline below the 1.3840 marks could look first for support in the 100 and 200-hour SMAs. Afterward, the weekly S1 at 1.3796 could provide support.
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.
Recommended Content
Editors’ Picks
AUD/USD trades with mild positive bias near 0.6700, RBA Meeting Minutes eyed
The AUD/USD trades with a mild positive bias near 0.6695 during the early Asian session on Monday. The weaker US Dollar provides some support to the pair. The Fed’s Bostic, Barr, Waller, Jefferson, and Mester are set to speak on Monday.
EUR/USD: Could FOMC Minutes provide fresh clues?
The EUR/USD pair advanced for a fourth consecutive week, comfortably trading around 1.0860 ahead of the close. Progress had been shallow, as the pair is up roughly 250 pips from the year low of 1.0600 posted mid-April.
Gold looks to extend uptrend once it confirms $2,400 as support
Gold price continued to push higher last week and rose above $2,400 on Friday, gaining nearly 2% for the week. Investors will continue to scrutinize comments from Fed officials this week and look for fresh hints on the timing of the policy pivot in the minutes of the April 30-May 1 meeting.
AI tokens could really ahead of Nvidia earnings
Native cryptocurrencies of several blockchain projects using Artificial Intelligence could register gains in the coming week as the market prepares for NVIDIA earnings report.
Week ahead: Flash PMIs, UK and Japan CPIs in focus. RBNZ to hold rates
After cool US CPI, attention shifts to UK and Japanese inflation. Flash PMIs will be watched too amid signs of a rebound in Europe. Fed to stay in the spotlight as plethora of speakers, minutes on tap.