OctaFX | OctaFX Forex Broker
Open trading account

GBP/USD dived below 1.63 on broad USD strength

FXStreet (Moscow) - GBP/USD opened the trades at 1.6338, and slowly drifted lower, until Europe came, and send the pair below 1.63; it is currently trading at 1.6280.

Carney to hint

The pound move lower intensified with the pair breaking below the round number at 1.63. There are no obvious reasons of the sell-off except the broad based USD strength. However, tonight the BOE Governor Carney is scheduled to speak at an insurance conference in Wales. Most probably he won’t focus on monetary policy, however, any comment on current British environment will be welcomed by the investors. Recently, the chairman hinted on the possibility of the first rate hike in the nearest spring. If there are some more positive hints from Carney this time, the market will take it as an opportunity to send the pound higher with initial target at 1.6360 pivot point.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6360, with support below at 1.6273 and 1.6220 with resistance above at 1.6394, 1.6447 and 1.6481. Hourly Moving Averages are mixed, with the 200SMA bullish at 1.6322, and the daily 20EMA flat at 1.6375. Hourly RSI is bearish at 39.

Sharp contraction expected in US Durable Goods Orders – UOB

Analysts at UOB Group expect a significant contraction in today’s data following the surge of more than 20% during July....
Read more Previous

Draghi's speech not expected to focus on immediate outlook for monetary policy - RBS

Brian Daingerfield and Flavia Cattan-Naslausky, FX Trading Strategists at RBS suggest that ECB head Mario Draghi's speech today at the Euro Conference in Vilnius, Lithuania should not provide us with projections for the central bank's moves in the nearest future.
Read more Next
Start livechat