OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/USD: meets 200 DMA, wrestles with resistance at 21 DMA - Scotiabank

FXStreet (Guatemala) - Eric Theoret, CFA, CMT FX Strategist at Scotiabank explained that near term risk lies with the broader tone and influence of relative policy for GBP/USD.

Key Quotes:

"With vulnerability to a highly sensitive Fed view."

"Domestically, we look to the release of RICS house price figures at 7:00pm EST, followed by Thursday’s BoE policy meeting. Consensus expects a hold, with the September minutes highlighting an 8-1 hold-hike voting outcome."

"GBP/USD short-term technicals: bullish, with caution."

"Following a material break above the 50% retracement of the April June rally around 1.5250 momentum signals are neutral and short-term MA’s hint to the potential for near term resistance as we consider the 21 day MA at 1.5315".

Global economy worrying for Japanese corporate sector - BAML

Analysts at Bank of America Merrill Lynch explained that in their view, economic downturn in emerging markets (led by China) is a worrying development for Japanese companies.
Read more Previous

GBP/USD hits a fresh 2-week high

GBP/USD pulled back to 1.5282 and rebounded, hitting a new 2-week high at 1.5327. The pair failed to rise further and currently it stands at 1.5310/15, near the same levels it had been trading during the last six hours.
Read more Next
Start livechat