OctaFX | OctaFX Forex Broker
Open trading account

GBP/USD met a barrier on the way higher

FXStreet (Moscow) - GBP/USD met resistance around 1.6125 in late Asia, and had to retreat to current 1.6113.

The pound came back above 1.61 again on weaker than expected US data, and may go even further. The market is still in doubts who will be the first to hike - the BOE, or the Fed? Series of negative surprises out of the USA strengthens the case for a prolonged period of ultra-low rates. And if the looming FOMC meeting confirms this, the pair have a good opportunity to recover to September highs. For now, the initial target to the upside may be located at 1.6153 resistance, once 1.6125 barrier is broken.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6116, with support below at 1.6084, followed by 1.6047 and 1.6015 with resistance above at 1.6153, followed by 1.6185 and 1.6222. Hourly Moving Averages are mixed, with the 200SMA at 1.6081, and the daily 20EMA flat at 1.6120. Hourly RSI is bullish at 55.

Sweden Producer Price Index (YoY): 1.7% (September) vs previous 2.7%

Read more Previous

Sweden Trade Balance (MoM): 1.4B (September) vs -2.8B

Read more Next
Start livechat