OctaFX | OctaFX Forex Broker
Open trading account

Pound/Dollar: Moving to Trend Line


On Thursday following the FOMC meeting, the pound/dollar rose to 1.5627. The Fed left the base rates unchanged. Janet Yellen’s speech was reserved. The GBPUSD growth slowed just above the U3 line.

A 45 degree rebound from the 1.5627 maximum took place. What are we waiting for? A growth to 1.5627 and then back to 1.5525/30. The U3 line will hold the buyers back. In addition, there’s divergence on the AO indicator. The best purchase would be one made from the LB.



The FOMC convened and as a result the pound/dollar reached an important resistance level. If the pressure on the USD increases next week, the pound will reach the upper limit of the channel (green line) at 1.5765. What the pound is doing on the daily leaves me clueless.



The pound/dollar is moving towards the trend line.


Indecisive dovish Fed inspires little confidence - SocGen

Research Team at Societe Generale, suggest that the US Fed’s dovish and indecisive stance over the rate hikes has inspired little confidence amongst the market participants.
Read more Previous

Greek Election: Meimarakis victory could push EUR/USD up to 1.1800

Once more, for the third time this year, the greeks are asked to vote in an election that is presented as crucial for the future of this damaged mediterranean country. The triumph in January of Syriza, the left-wing party that wanted to revolutionize Greece, diluted in a few months. At the same time, the euro went down until reaching 1.0461, its minimum value since January 2003. By then, the general thought was that Greece would have to quit the euro after being unable to meet its scheduled
Read more Next
Start livechat