OctaFX | OctaFX Forex Broker
Open trading account

GBP/USD supported by hourly 50-MA

FXStreet (Mumbai) - The GBP/USD pair is once again finding support at its hourly 50-MA currently located at 1.5173 levels ahead of the US services PMI data release.

Stuck between hourly 200-MA and 50-MA

At the moment, cable appears stuck between its hourly 200-MA and 50-MA located at 1.5187 and 1.5173 levels. The dismal UK manufacturing US services PMI report released earlier today kept the Sterling below 1.52, however, the prevailing risk-on in the equities ensured the losses remained capped around hourly 50-MA.

The focus now shifts to the US ISM non-manufacturing PMI report due for release today. Investors would closely watch the report to see if the service sector added to labor market strength in September.

GBP/USD Technical Levels

At 1.5181, the immediate support is seen at 1.5186 (hourly 50-MA), under which the spot could drop to 1.5107 (Oct 1 low). On the other side, resistance is located at 1.5244 (Oct 5 high) and 1.53 levels.

EUR/USD deflates towards 1.1230, US data eyed

The single currency has given away most of its earlier advance vs. the dollar, with EUR/USD now gyrating around 1.1230...
Read more Previous

BOJ: More easing in the offering, not yet – BBH

Research Team at BBH, suggest that while there may see scope at some juncture to tweak the assets being purchased from an operational standpoint, we think that the BOJ is still satisfied with what it sees to be the underlying economic signals.
Read more Next
Start livechat