OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/USD awaits Carney while bearish below 200 DMA

FXStreet (Guatemala) - GBP/USD is currently trading in recovery mode at 1.5158 with a high of 1.5206 and a low of 1.5127.

There has been a bit of a flurry withe the London fix and end of month flows starting to come through, although the better offered bias remains while cable trades below the 200 DMA at 1.5331 and EUR/GBP remains firmly in demand, riding the 50 SMA and 50 DMA with the 200 DMA breached yesterday and trading at daily highs again today. However, EUR/USD is falling back onto the 200 DMA, so when the greenback finally garners some demand, and if focus shifts back to the Central Banks, cable may find support again as it has done before in such an environment. Key near term supports are 1.5106 and 1.5055.

GBP/USD and Carney

We have Carney taking the spotlight later today as we progress through the US session on Wall Street. "The key focus there will be whether he provides us with any sense of the MPC’s assessment of the fallout from the financial market volatility and EM growth slowdown seen over the last couple of months onto the UK’s domestic economy," as explained by analysts at TD Securities. Attentions will then turn to UK GDP and Nonfarm Payrolls that are both released later in the week.

United States 4-Week Bill Auction remains unchanged at 0%

United States 4-Week Bill Auction remains unchanged at 0%
Read more Previous

EUR/USD rises toward 1.1250

EUR/USD was rejected from levels under 1.1200 and is now attempting to rise on top of 1.1250. Currently it trades at 1.1235/38, facing the hourly 20-SMA. Price action continues to be limited across the board, particularly in European crosses.
Read more Next
Start livechat