OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/USD: Revisiting Tuesday’s low

FXStreet (Mumbai) - The GBP/USD is nearing the Thursday’s low of 1.5248 as the bid tone on the USD stays intact amid the rise in December rate hike probability.

Rejected at 1.5272

A technical recovery in Asia quickly ran out of steam around 1.5272 levels. The USD spiked across the board in the NY session and stays on a positive footing as the Fed is no longer worried about the global issues and has kept the doors open for a rate hike in December.

Ahead in the day, the UK net consumer credit would be watched out by traders. Next on cards would be the US preliminary Q3 GDP figures.

GBP/USD Technical Levels

At 1.5255, the immediate support is seen at 1.5248 (50% of Apr-Jun rally), under which the pair could test 1.52 handle. The next strong support is seen at 1.5185 (23.6% of Jul 14-Apr 15 plunge). On the other side, resistance is seen at 1.5282 (Oct 27 high)-1.53, followed by major hurdle at 1.5333 (200-DMA).

WTI drops in Asia on profit-taking, below $ 46

WTI oil snapped the previous rally and turned lower on Thursday, as markets took profits after the relentless rise seen yesterday.
Read more Previous

US Q3 GDP likely to show significant slowdown - Danske Bank

According to Arne Lohmann Rasmussen, Chief Analyst, Head of Fixed Income Research, at Danske Bank, US GDP data are likely to show a significant slowdown in growth in Q3.
Read more Next
Start livechat