OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/USD trims gains towards 1.5330

FXStreet (Edinburgh) - The sterling is clinging to daily gains vs. the greenback at the beginning of the week, with GBP/USD hovering over the 1.5330 region.

GBP/USD following the risk trends

The pair remains in the positive territory at the beginning of the week against a backdrop of rising risk appetite and profit-taking around the dollar. In the data space, UK’s Mortgage Approvals by BBA have come in on the softer side at 44.489K during September while CBI’s Industrial Trends Survey is due later.

After an ephemeral test of the support near the vicinity of 1.5300 the figure overnight, spot has managed to pick up pace during the European morning, although the bullish attempt seems to have run out of steam near 1.5350 so far.

GBP/USD important levels

As of writing the pair is advancing 0.12% at 1.5332 facing the next hurdle at 1.5394 (55-day sma) ahead of 1.5448 (61.8% Fibo of 1.5658-1.5106) and then 1.5492 (100-day sma). On the downside, a breach of 1.5236 (23.6% Fibo of 1.5658-1.5106) would target 1.5198 (low Oct.13) and finally 1.5185 (6-month uptrend).

WTI rebounds from 3-week lows, nears $ 45

WTI oil halted a five-day losing streak and edged higher in the European session on the back of a broadly weaker US dollar.
Read more Previous

Gold/EUR back above 200-DMA

Gold prices in the EUR terms are back above the 200-DMA located at EUR 1056.12/Oza, although gains remain capped due to a moderate uptick in the EUR/USD pair.
Read more Next
Start livechat