OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/USD downside exposed sub 1.6000

FXStreet (Barcelona) - GBP/USD is trading at 1.6027, down -0.01% on the day, having posted a daily high at 1.6040 and low at 1.6027.

GBP/USD has been holding in the 1.6000’s after a glimpse below the figure for the first some since the middle of the month. The greenback has been a favourable bet amongst it’s peers while Sterling has really been a bi product of the moves n the US dollar, with EUR/GBP rallying on EZ data but settling back on demand of the greenback again. The FOMC is likely to take the spot light next week and be the key driver for the pair. The downside is exposed sub 1.6000 with first hurdle for the bears being 1.5950.

GBP/USD noteworthy levels

Spot is presently trading at 1.6028, and next resistance can be seen at 1.6030 (Daily Open), 1.6032 (Weekly Classic PP), 1.6036 (Hourly 20 EMA), 1.6040 (Daily High) and 1.6051 (Weekly Low). Support below can be found at 1.6027 (Daily Low), 1.5997 (Daily Classic S1), 1.5995 (Yesterday's Low), 1.5943 (Daily Classic S2) and 1.5937 (Weekly Classic S1).

Greenback supported US indexes - FXStreet

Valeria Bednarik, chief analyst at FXStreet noted the conditions leading into the Asia shift.
Read more Previous

New Zealand Trade Balance (MoM) came in at $-1350M, below expectations ($-700M) in September

Read more Next
Start livechat