OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/USD at session highs, nears 1.52

FXStreet (Mumbai) - The US desks offered the Greenback against the European majors, pushing the GBP/USD pair to a high of 1.5196 levels after US reported a wider trade deficit for August.

Bid above hourly 200-MA

The pair ran into fresh bids after it rose above its hourly 200-MA located at 1.5175 levels. The US trade deficit widened by the most in five months due to the drop in the exports to four year low. Consequently, the USD was ditched; especially against the European currencies.

Meanwhile, Fed’s George did not comment on the monetary policy, while the US stock markets suffered moderate losses.

GBP/USD Technical Levels

At 1.5196, the immediate resistance is seen at 1.5244 (Monday’s low), followed by a major hurdle at 1.5330 (Sep 15 low). A break above the same would expose 50-DMA at 1.5436. On the downside, support is seen at 1.5175 (hourly 200-MA), under which the pair could drop to 1.5107 (Sep 30 low)-1.51 levels.

USD/CHF stays depressed near lows

USD/CHF is trading slightly lower on Tuesday with the dollar pressured by downbeat trade balance data and the swissy supported by an increase in September CPI.
Read more Previous

Canada Ivey Purchasing Managers Index rose from previous 55.6 to 63.3 in September

Canada Ivey Purchasing Managers Index rose from previous 55.6 to 63.3 in September
Read more Next
Start livechat