OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/USD highway to 1.6100

FXStreet (Edinburgh) - The sterling is extending its march north during the NA session, lifting GBP/USD beyond 1.6080.

GBP/USD supported around 1.5940

The pound is trading pari pasu with its European peer, benefiting from the current softer tone around the US dollar and closer to the critical 1.6100 limestone. In the meantime, the greenback could no take advantage of the better results from the US industrial sector and labour market, allowing the current recovery in risk-associated assets and high-beta currencies.

GBP/USD levels to consider

At the moment the pair is up 0.35% at 1.6076 and a surpass of 1.6095 (high Oct.14) would open the door to 1.6100 (psychological handle). On the flip side, the immediate support aligns at 1.5940 (low Oct.16) followed by 1.5875 (low Oct.15) and finally 1.5854 (low Nov.12 2013).

Putting Humpty –Dumpty back together - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale explained how yesterday's moves were extraordinary.
Read more Previous

Largest intra day move since Lehman crisis - BAML

Analysts at Bank of America Merrill Lynch explained yesterday’s turmoil and volatility in the markets.
Read more Next
Start livechat