OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/USD tests 1.5660 after failing above 1.5700

FXStreet (San Francisco) - The pound trades slightly negative against the US dollar after failing to maintain prices above the 1.5700. Currently, GBP/USD is trading at 1.5673, still 0.28% positive on the day, having posted a daily high at 1.5723 and low at 1.5590.

GBP/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.

GBP/USD sentiment

According to FXStreet chief analyst Valeria Bednarik, "the pair seems to be developing a double bottom daily basis [1.5580], albeit the neckline of the figure stands at 1.5740, November 17th high, which means further gains above it are required to confirm it."

As for the short term, if the pair extends rejection below 1.5660, it will find next supports at 1.5645 and 1.5580. To the upside, 1.5720, 1.5740 and 1.5750 are resistances.

EUR/USD back below 1.2550

EUR/USD retreated after approaching 1.2600 following the release of the FOMC minutes and fell below 1.2550. Near the end of trading in Wall Street the pair trades at 1.2540, just five pips above the level it closed yesterday.
Read more Previous

Elementary, my dear Watson; It's simply a matter of inflation - FXStreet

Valeria Bednarik, chief analyst at FXStreet, explained that the world is worried about low inflation, and the FED is no exception.
Read more Next
Start livechat