OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/USD hits fresh highs above 1.5300

FXStreet (Córdoba) - GBP/USD extended gains during the American session and reached at 1.5312 a fresh daily high. The hourly 100-MA capped the upside and from there cable pulled back. It was trading at 1.5295/99, up 35 pips for the day.

Greenback is falling in the market on Thursday except versus the yen, that is the worst performer. The euro and the pound area leading the rally against the USD but so far gains have been modest; EUR/USD and GBP/USD remain below the level they had before the release of the FOMC statement.

GBP/USD levels to watch

So far the pair has been unable to consolidate above 1.5300 (23.6 Fibonacci retracement – 1.5505 – 1.5240), above resistance level might lie at 1.5345/50 (38.2% Fibo) and 1.5375 (50% Fibo, Oct 23 low). On a wider perspective the key resistance continues to be the 1.5500 handle that capped the upside several times during the previous two weeks.

On the opposite direction, support levels could be located at 1.5275 (Asian session high), 1.5240 (daily low) and 1.5220 (base of bearish short term channel).

USD/CAD falls back below 1.3200

USD/CAD resumed the decline on Thursday with the loonie helped by the rise in oil prices as WTI climbs to near $47.00 a barrel, its highest in 10 days.
Read more Previous

EUR/NOK seen at 8.80 in three months - UBS

Norwegian labor and retail sales data released Wednesday disappointed market expectations and led to the EUR/NOK rising above 9.40 for the first time in three weeks. But the details of the data do not look especially worrying, according to the UBS analyst team.
Read more Next
Start livechat