GBP/USD has support from 50-hour SMA

Source: Dukascopy Bank SA


The GBP/USD currency pair initially failed to reach above the 1.2535/1.2540 range. However, on Monday, the range was passed. On Tuesday, the 50-hour simple moving average caught up with the pair and provided additional support.

In general, the rate is expected to move higher and test the resistance of the weekly R1 simple pivot point at 1.2588 and the 1.2600 level. Above these levels, note the 1.2650 mark and the weekly R2 at 1.2685.

Meanwhile, a potential decline would have to decline below the 50-hour simple moving average near 1.2530 and the combination of the 100-hour SMA and the 1.2500 mark. Further below, take into account the 200-hour SMA, the 1.2450 level and the weekly simple pivot point at 1.2444.
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Tue, 30 Apr 2024 11:35:05 GMT

USD/JPY support holds

The USD/JPY continued to move higher and higher, as the Dollar gained value and the Yen kept getting weaker. This in turn has caused another intervention of the Bank of Japan. The central bank pushed the Yen up, which caused a drop of the rate. However, it stopped at the support of the 154.70/154.80 range. The range held and

Tue, 30 Apr 2024 10:04:52 GMT

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