OctaFX | OctaFX Forex Broker
Open trading account

GBP/USD: stuck at hourly 100-MA

FXStreet (Mumbai) - The GBP/USD ran into offers at the hourly 100-MA level located at 1.5157 levels following which the spot pared gains to trade around 1.5150 levels.

USD bid in early Europe

The USD is finding some love, especially against the European majors, although the uptick is moderate and lacks major fundamental trigger. Meanwhile, the uptick in the FTSE and mining stocks like Glencore is offering support to Sterling.

At the moment, the pair appears stuck between its hourly 100-MA and hourly 50-MA located at 1.5157 and 1.5142 levels, respectively. Ahead in the day, sharp moves could be seen after the release of the US nonfarm payrolls report.

GBP/USD Technical Levels

At 1.5150, the immediate resistance is seen at 1.5157 (100-MA), above which the spot could target 1.52 levels. On the other hand, support is seen at 1.5142 (hourly 50-MA) and 1.51 levels.

BOJ Preview: Status quo next week, but surprise can be in store – Goldman Sachs

Naohiko Baba, Research Analyst at Goldman Sachs, suggests that the research house maintains the base case of the BOJ’s additional easing on October 30, although they do not fully rule out the possibility of an earlier move next week.
Read more Previous

US: World Bank warns against Fed lift-off – Deutsche Bank

Darren Gibbs, Chief Economist at Deutsche Bank, suggests that the investor’s sentiment was dented by the recent statement from the World Bank President in which he warned against the consequences of Fed lift-off this year.
Read more Next
Start livechat