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GBP/USD slipping through the net of the 1.59 handle

FXStreet (Guatemala) - GBP/USD is trading at 1.5882, down -0.14% on the day, having posted a daily high at 1.5909 and low at 1.5879.

GBP/USD has slipped through the net but price action is a mere drift and slow and moreover remains in consolidation after a dramatic series of events overnight with the pound kicked into touch on the back of the UK September CPI inflation data. The core CPI read far lower than expectations arriving at 1.5% y/y in September vs 1.8% expected and that has dented an outlook for a move from the BoE as early as the first months of 2015. The week ahead delivers us a number of key data releases from the FED at the end of the week that are likely to be the next driving force in the pair and includes and speech from Yellen.

GBP/USD noteworthy levels

With spot trading at 1.5883, we can see next resistance ahead at 1.5897, 1.5904 (Daily Open), 1.5909 and 1.5938 (Hourly 20 EMA). Support below can be found at 1.5879, 1.5834 (Daily Classic S1), 1.5812 (Weekly Classic S2), 1.5765 (Daily Classic S2) and 1.5671 (Weekly Classic S3).

China Consumer Price Index (YoY) registered at 1.6%, below expectations (1.7%) in September

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China CPI lowest since November 2009

China Consumer Price Index (YoY) came at 1.6% in September, which is slightly below expectations of 1.7%, and represents lowest since November 2009. The number was well below the 3.5% government target. Meanwhile, China Producer Price Index (YoY) posted -1.8% vs -1.6% expected.
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