OctaFX | OctaFX Forex Broker
Open trading account

GBP/USD regains 1.6000 as dollar recedes

FXStreet (Córdoba) - Cable managed to climb back above 1.6000 at the beginning of the New York session as the dollar takes a breather following a sharp rally triggered by Fed’s hawkish statement on Wednesday.

GBP/USD bottomed out at 1.5950 after the release of better-than-expected US GDP figures, but profit taking and stretched positions helped the pound to rise to the 1.6025 area. However, the pair was having a hard time extending its recovery beyond that level, and retreated slightly to currently trade at 1.6011, virtually unchanged on the day.

GBP/USD levels to watch

As for technical levels, next resistances could be found at 1.6085 (Oct 29 intraday level) and 1.6100 (psychological level), while immediate supports are seen at 1.5950 (intraday low) and 1.5940 (Oct 16 low) ahead of 1.5900 (psychological level).

USD/JPY trading around 109.00 - FXStreet

As FXStreet Chief Analyst Valeria Bednarik observes, USD/JPY is trading close to the 109.00 level on Thursday, with a short and longer term bullish bias.
Read more Previous

EUR/USD extends gains to 1.2640

The EUR/USD bounced off intraday lows at 1.2550 to reach daily highs around 1.2640 influenced by the fine print of US GDP data. At this level the pair found selling interest that sent it back to 1.2610.
Read more Next
Start livechat