OctaFX | OctaFX Forex Broker
Open trading account

GBP/USD losing it’s footing

FXStreet (Guatemala) - GBP/USD is trading at 1.6142, down -0.27% on the day, having posted a daily high at 1.6252 and low at 1.6113.

GBP/USD had been holding up to the greenback over the last handful of session and came second to the worlds commodity currency but of late, Sterling is losing it’s spot on the palladium having fallen through 1.6180 key support. Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained that initially GBP attempted to rally but failed and shifted lower; downward pressure was accelerated by comments by the BoE’s Broadbent that the UK is moving towards interest rate hikes but that the country is not ready and consumers should think carefully about debt levels."

GBP/USD hourly levels

Current price is 1.6142, with resistance ahead at 1.6148 (Daily Classic S1), 1.6162 (Yesterday's Low), 1.6169 (Hourly 20 EMA) and 1.6184 (Weekly Classic S1). Next support to the downside can be found at 1.6120 (Weekly Classic S2), 1.6110 (Daily Classic S2) and 1.6105.

US stocks drop again, GBP plummets

Stocks in Europe finished sharply lower and in Wall Street were falling for the fourth day in a row after the European Central Bank revealed details about its new stimulus program.
Read more Previous

USD/CHF: correction contained by 0.9520

USD/CHF retreated from 14-month highs Thursday and is on track to post its first loss in seven days on a combination of a weaker dollar and a stronger euro.
Read more Next
Start livechat