OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/USD weaker, challenging 1.5000

FXStreet (Edinburgh) - After a failed attempt to retake the 1.5030 area, GBP/USD has now returned to the vicinity of the psychological 1.5000 handle.

GBP/USD in 7-month lows

The demand for GBP remains depressed today, in line with the offered tone prevailing in the rest of the risk-associated universe amidst increasing buying interest around the US dollar.

Data wise in the UK economy, M4 Money Supply has expanded at a monthly pace of 0.6%, while Consumer Credit and Mortgage Approvals have come in short of estimates during October.

GBP/USD important levels

The pair is now losing 0.21% at 1.5009 facing the next support at 1.5000 ahead of 1.4853 (low Apr.21) and finally 1.4563 (low Apr.13). On the flip side, a breakout of 1.5137 (high Nov.25) would open the door to 1.5272 (55-day sma) and finally 1.5336 (high Nov.19).

Dollar index inching closer to new cyclical high - MUFG

Lee Hardman, Currency Analyst at MUFG, suggests that the US dollar remains on the front foot heading into this week with the dollar index inching closer to a recording a new cyclical high.
Read more Previous

Short GBP/USD, target 1.40 – ING

The ING financial markets research team believes the GBP/USD is heading towards 1.4 levels in 2016 on the back of brexit fears and pricing of the true economic costs of such an event.
Read more Next
Start livechat