OctaFX | OctaFX Forex Broker
Open trading account

GBP/USD heading towards 1.5590 - FXStreet

FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet sees GBP/USD's ruling trend remaining firm.

Key Quotes

"The pair’s ruling trend remains firm in place, with the 4 hours chart showing price retraced from a clearly bearish 20 SMA offering dynamic resistance around the mentioned daily high, while indicators turned strongly south in negative territory, after correcting oversold readings: 1.5589, this year low comes as immediate support with some consolidation around it expected if reached within the next couple hours."

"But a break below it should see a downward extension towards 1.5550 price zone, in route to the 1.5500 figure."

"Short term, the first resistance stands at 1.5660, with a recovery above it probably signaling a retest of the 1.5700 level."

Eurozone EUR18.5bn trade surplus in September

The first estimate for the Eurozone trade in goods balance with the rest of the world in September 2014 gave a EUR18.5bn surplus, compared with EUR10.8bn in September 2013.
Read more Previous

Brent extends eight-week slide

Brent Crude prices fell, extending an eight week decline after Japan, the world’s fourth largest crude importer, unexpectedly fell into a recession during the third quarter.
Read more Next
Start livechat