OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/USD off highs, re-visits 1.5150

FXStreet (Edinburgh) - The sterling is now giving away part of the initial gains vs. the dollar, sending GBP/USD back to the 1.5150/45 band.

GBP/USD well supported around 1.5100

The pair is looking to stabilize the drop from September peaks in the boundaries of the 1.5700 handle, finding some sort of comfort zone in the low-1.5100s so far.

The re-emergence of the bearish tone around GBP follows the adjustment by market participants to a rate hike by the ‘Old Lady’ later than initially anticipated (May 2016?), mainly after the recent poor Payrolls results in the US economy, which could delay further a Fed’s lift-off.

GBP/USD significant levels

As of writing the pair is up 0.01% at 1.5148 with the next resistance at 1.5244 (high Oct.5) followed by 1.5261 (high Sep.25) and finally 1.5364 (high Sep.23). On the flipside, a break below 1.5137 (low Oct.2) would expose 1.5107 (low Oct.1) and then 1.5089 (low May 5).

EUR/USD nears 1.12 as European stock futures drop

The EUR/USD pair neared 1.12 levels in early Europe as the major European stock futures hint at a loss of upside momentum after sharp rally on Monday.
Read more Previous

China: September foreign reserves likely to show further deterioration - ING

Tim Condon, Chief Economist at ING, suggests that China’s September foreign exchange reserves data is due tomorrow and the consensus forecast is $3.5tr, which implies a $57bn decline in September and a year-to-date decline of $343bn.
Read more Next
Start livechat