OctaFX | OctaFX Forex Broker
Open trading account

GBP/USD likely to be range-bound – FXStreet

FXStreet (Barcelona) - Matias Salord, FXStreet Analyst, notes GDP/ USD to continue to move in a range and only a break above the resistance can trigger another bull run.

Key Quotes

“The range is likely to persist and only a break above 1.5740, key short term resistance (200-SMA) that capped the upside on Monday and yesterday, could trigger a bullish run.”

“On the downside, price has two strong support levels at 1.5620 and 1.5590 (2014 low); below it could accelerate but considering that no major economic data will be released and if risk appetite remains in place, GBP/USD is likely to avoid reaching fresh 1-year lows on Friday.”

CAD strengthens on stronger-than-expected Canadian CPI

Data released by Statistics Canada showed that the Canadian Consumer Price Index (CPI) rose 2.4 percent in the 12 months to October, after increasing 2.0 percent in September.
Read more Previous

EUR/USD threatens 1.2400

The selling interest around the common currency is picking up pace again, pushing EUR/USD to the boundaries of the psychological support at 1.2400...
Read more Next
Start livechat