Dukascopy Bank Team
Dukascopy Bank SA
In the aftermath of passing the 1.4000 mark, the GBP/USD found resistance in the 1.4010 level. On Tuesday, a retracement back down was taking place. It was spotted at mid-day that the 1.3950 mark was providing support.
If the 1.3950 provides enough support for a renewal of the surge, the pair should test the 1.4000 mark, the mentioned 1.4010 level and afterwards the 1.4050 level. Note that there is no technical resistance as high as the weekly R3 simple pivot point at 1.4084.
On the other hand, a decline below 1.3950 could reach for the combined support of the 1.3900 level, the 55-hour simple moving average and the weekly R1 simple pivot point.
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
EUR/USD regains traction, recovers above 1.0700
EUR/USD regained its traction and turned positive on the day above 1.0700 in the American session. The US Dollar struggles to preserve its strength after the data from the US showed that the economy grew at a softer pace than expected in Q1.
GBP/USD returns to 1.2500 area in volatile session
GBP/USD reversed its direction and recovered to 1.2500 after falling to the 1.2450 area earlier in the day. Although markets remain risk-averse, the US Dollar struggles to find demand following the disappointing GDP data.
Gold climbs above $2,340 following earlier drop
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
After the US close, it’s the Tokyo CPI
After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%.