OctaFX | OctaFX Forex Broker
Open trading account
Back

Pound sees no relief - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that following the release of the poll on the Scottish independence referendum results, showing 51% votes in favor, GBP/USD is breaking through an early interbank low of 1.6150.

Key quotes

"Having closed on Friday at 1.6320, the daily high so far stands at 1.6235, and the fact that price breaks lower leaving the gap unfilled supports further falls for today."

"The 4 hours chart shows 20 SMA with a strong bearish slope well above current price, while momentum extends south despite in oversold levels."

"RSI in the same time frame stands at 11.70, with no signs of exhaustion or a probable reversal underway: immediate support stands now around the 1.6100 figure, with a break below exposing 1.6040/60 area in the short term, in route to the critical 1.6000 level."

"Above 1.6170 on the other hand may see a retest of the daily high of 1.6235, yet it will be above 1.6250 the pair will shrug off the bearish bias and attempt to fill the gap, not expected for the upcoming session."

Troika awaiting Cypriot foreclosure law details

EU officials informed on Monday that the Troika hasn't received the new Cypriot bill adopted on Saturday, speeding up foreclosures on business loans and mortgages and aimed at making way for the release on the next, 10 billion euro tranche of bailout money.
Read more Previous

USD/CAD could drop sub-1.08 in early 2015 – Rabobank

According to Jane Foley, Senior Currency Analyst at Rabobank, the pair could slip back to levels below the 1.0800 handle at the beginning of the next year....
Read more Next
Start livechat