Dukascopy Bank Team
Dukascopy Bank SA
GBP/USD
Starting from Tuesday up to the middle of Wednesday's trading, the resistance zone at 1.3550/1.3557 continued to hold, as the GBP/USD was making its third attempt at breaking it. Previous forecast scenarios remained unchanged.
In the near term future, a move above the 1.3550 mark might aim at the weekly R1 simple pivot point at 1.3585. Afterward, the 1.3600 mark could provide resistance, before the GBP/USD reaches the weekly R2 simple pivot point at 1.3647.
Meanwhile, a potential decline is highly likely set to look for support in the 50 and 100-hour simple moving averages near 1.3500. Below the 1.3500 mark, the weekly simple pivot point at 1.3489 could stop a decline.
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 could extend the recovery to 0.6500 and above
The enhanced risk appetite and the weakening of the Greenback enabled AUD/USD to build on the promising start to the week and trade closer to the key barrier at 0.6500 the figure ahead of key inflation figures in Australia.
EUR/USD now refocuses on the 200-day SMA
EUR/USD extended its positive momentum and rose above the 1.0700 yardstick, driven by the intense PMI-led retracement in the US Dollar as well as a prevailing risk-friendly environment in the FX universe.
Gold struggles around $2,325 despite broad US Dollar’s weakness
Gold reversed its direction and rose to the $2,320 area, erasing a large portion of its daily losses in the process. The benchmark 10-year US Treasury bond yield stays in the red below 4.6% following the weak US PMI data and supports XAU/USD.
Bitcoin price makes run for previous cycle highs as Morgan Stanley pushes BTC ETF exposure
Bitcoin (BTC) price strength continues to grow, three days after the fourth halving. Optimism continues to abound in the market as Bitcoiners envision a reclamation of previous cycle highs.
US versus the Eurozone: Inflation divergence causes monetary desynchronization
Historically there is a very close correlation between changes in US Treasury yields and German Bund yields. This is relevant at the current juncture, considering that the recent hawkish twist in the tone of the Federal Reserve might continue to push US long-term interest rates higher and put upward pressure on bond yields in the Eurozone.