OctaFX | OctaFX Forex Broker
Open trading account

GBP/USD remains capped by 1.5350

FXStreet (Córdoba) - GBP/USD managed to recover some ground and bounced off from the 1.5300 area during the European session, climbing to fresh daily highs before losing momentum.

The dollar has given up gains versus the pound amid better risk sentiment as investors’ attention turns to Fed decision on Wednesday. However, GBP/USD found resistance at the 1.5350 region and settled in a slim range just below. At time of writing, the pair is trading at 1.5333, still 0.13% above its opening price.

GBP/USD levels to watch

In terms of technical levels, GBP/USD could find immediate resistances at 1.5350 (Oct 26 high), 1.5380 (50-day SMA) ahead of 1.5448 (61.8% Fibo of 1.5658-1.5106). On the downside, supports are seen at 1.5236 (23.6% Fibo of 1.5658-1.5106), 1.5200 (Oct 13 low) and then 1.5185 (6-month uptrend).

Markets expect strongly dovish message from Fed in Oct meet - BAML

Research Team at BAML, suggest that for the October FOMC meeting, markets and the Fed are reasonably well aligned: markets do not appear to expect the Fed to hike, and in our view the Fed will stand pat.
Read more Previous

EUR/GBP could re-test 0.6935 – BBH

The research team at BBH sees the European cross could re-visit lows around 0.6935 in the medium term...
Read more Next
Start livechat