OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/USD holds above 1.6300

The GBP/USD attempted to recover from 1.6275 support earlier in the American session amid Carney comments on interest rates; however the pair was contained by the 1.6340 where the pair found selling interest and it was launched to 1.6300.

Then, the 1.6300 support holds and now GBP/USD is trading at 1.6315, down 0.14% on the day, having posted a daily high at 1.6344 and low at 1.6275.

The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.

GBP/USD sentiment

According to Valeria Bednarik from FXStreet, "the pair remains uneventful trading midrange and with the 1 hour chart showing a mild bearish tone, as per price below its 20 SMA and indicators flat right below their midlines."

If the pair manages to extend recovery above the 1.6340, next resistances are at 1.6360 and 1.6410. On the downside, supports are at 1.6275, 1.6250 and 1.6230.

USD/JPY: Are we seeing a turn around?

USD/JPY is trading at 108.67, down -0.34% on the day, having posted a daily high at 109.39 and low at 108.52.
Read more Previous

Looking for reasons on a lower EUR? - FXStreet

Valeria Bednarik explained the EUR/USD took a dive down to 1.2694 on Thursday, on the back of a fully armed Draghi.
Read more Next
Start livechat