OctaFX | OctaFX Forex Broker
Open trading account

Fresh lows for GBP/USD ahead of US ADP report

FXStreet (Mumbai) - The GBP/USD fell to a fresh session low of 1.5024 levels ahead of the monthly private sector employment report in the US.

Focus on US ADP

The ADP report is expected to show the private sector added 190K jobs in November compared to 182K additions seen last month. A strong figure would be additional evidence of the labour market tightening. The report would be followed by Yellen speech.

As of now, the entire gains witnessed in the previous two session stands erased.

GBP/USD Technical Levels

The immediate support is seen at 1.50, under which the pair could test 1.4951 (Jan 23 low). A break lower would expose 1.49 handle. On the other side, 100-DMA at 1.5064 could offer resistance, above which the pair could rise to 1.0587 (61.8% of Apr-Jun rally) and 1.51 (hourly 200-MA).

Soft Eurozone inflation figures reinforces aggressive easing speculations - BBH

Research Team at BBH, suggests that the softer than expected preliminary EMU inflation figures encourages expectations for the more aggressive range of actions by the ECB tomorrow.
Read more Previous

AUD: Australian real GDP data a mixed bag - MUFG

Derek Halpenny, European Head of GMR at MUFG, suggests that the Australia’s real GDP expanded by a larger than expected 0.9% in Q3 after an upwardly revised 0.3% (0.2%) gain in Q2.
Read more Next
Start livechat