OctaFX | OctaFX Forex Broker
Open trading account
Back

GBPUSD recovery capped by 1.6270

FXStreet (Córdoba) - GBP/USD failed to break above the 1.6270 area and pulled back, erasing almost completely intraday gains, despite the dollar weakened following worse-than-expected US jobless claims.

Initial jobless claims rose by 11,000 to 315,000 last week versus 300,000 expected. GBP/USD reached a daily high of 1.6269 after the data but lacked follow-through. The pair dipped back to the 1.6210 zone before the setback was contained, and it is currently trading at 1.6230, still 0.14% above its opening price.

Uncertainty over Scotland lingers, though it seems markets have calmed down following a poll released today that gave 'no' the lead in the independence vote.

GBP/USD technical perspective

“In the 4 hours chart technical readings are biased higher, with a break above 1.6280, Fibonacci resistance, favoring a quick run towards 1.6320 price zone, where it will finally fill the weekly opening gap”, said Valeria Bednarik, chief analyst at FXStreet.

Bednarik locates next resistance levels at 1.6280, 1.6320 and 1.6350, while supports are seen at 1.6220, 1.6190 and 1.6150.

United States EIA Natural Gas Storage change: 92B (September 5) vs 79B

Read more Previous

BoJ's Kuroda: Adjustments to monetary policy not necessary for now

BoJ governor Haruhiko Kuroda said in a television appearance on Thursday that he didn't consider the current weakness of the yen as extremely harmful for the Japanese economy. The currency moves reflect economic fundamentals in his opinion, which is desirable.
Read more Next
Start livechat