OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/USD fails to regain 1.6000

FXStreet (Córdoba) - GBP/USD staged a mild recovery from 11-month lows Monday but it lacked follow-through to clear the 1.6000 psychological level and was confined to a phase of consolidation.

GBP/USD rebounded from an 11-month low of 1.5952 and stretched to a daily high of 1.5996 at the beginning of the New York session in lackluster trading in the absence of first-tier economic data as investors remain sidelined ahead of the FOMC minutes (Wednesday) and the Bank of England policy decision (Thursday).

GBP/USD technical levels


At time of writing, GBP/USD is trading at the 1.5985, still up 0.16% on the day, with immediate resistance at 1.5996/1.6000 (intraday high/psychological level) followed by 1.6050 (Sept 10 low) and 1.6100 (psychological level). On the other hand, supports are seen at 1.5951 (Oct 3 low), 1.5900 (psychological level) and 1.5877 (Nov 13 2013 low).

AUD/USD found resistance at 0.8750

The upbeat momentum in the Aussie dollar seems to have run out of steam in the mid-0.8700s do far, with the AUD/USD now deflating to the 0.8720/15 band....
Read more Previous

NZD/USD fails to hold above 0.7800

The kiwi is rising against the US dollar on Monday but pulled back from the highs ahead of the American session.
Read more Next
Start livechat