OctaFX | OctaFX Forex Broker
Open trading account

Forex: GBP/USD bouncing off lows, eyes 1.5200

After dipping to the area around 1.5130, levels last seen in July 2010, the sterling is picking up pace and heading towards 1.5200 ahead of the opening bell in London.
The bearishness already surrounding the pound in the past sessions has accelerated yesterday after the hawkish tone from the FOMC minutes, dragging the cross to fresh lows.

At the moment, GBP/USD is losing 0.35% at 1.5180 facing the next support at 1.5125 (low Jul.21 2010) followed by 1.4949 (low Jul.12 2010) and then 1.4873 (low Jul.1 2010).
On the flip side, a breakout of 1.5240 (high Feb.21) would aim for 1.5268 (Lower Bollinger) and then 1.5452 (high Feb.20).

Asian markets down on FOMC and Chinese property price controls

Most Asian equity indexes edged lower on Thursday, possibly due to a lack of consensus on extending US QE by key FOMC members and the introduction of Chinese property price controls. Mainland China's Shanghai Composite shed -2.84%, Hong Kong's Hang Seng fell -1.77%, South Korea's Kospi dropped -0.47% and Japan's Nikkei Stock Average eased -1.39%.
Read more Previous

Forex: USD/JPY down, held by 93.35/40

The USD/JPY spiked to 94.03 high on FOMC minutes and key members' lack of consensus on extending US QE. With 93.80 resistance at work, the pair fell during the Asian shift, but has been holding at 93.35/40 since.
Read more Next
Start livechat