OctaFX | OctaFX Forex Broker
Open trading account

Forex: GBP/USD entrenched in negative territory at 1.5026/29

The GBP/USD continues to be buried in negative territory, despite a recent upside attempt that was stonewalled at the 1.5050 level. Earlier UK data has roiled the pair, which now settles at 1.5026/29, down -0.91%.

According to the ICN.com Analyst Team, “Recent stability below key supports extend the downside move, especially as the Linear Regression Indicators are negative and form a ceiling for trading. We think that the bearish move might extend as trading below 1.5310 levels keeps this possibility valid.”

After crashing through numerous supports (1.5130, 1.5100, and 1.5080), ICN.com analysts identify additional supports in the short-term at 1.5035 onto 1.5000. On the ascension, a recovery towards the 1.5190 resistance will open up additional measures at 1.5225 and 1.5250.

Forex Flash: Brent Crude can see downside ahead this week - Nomura

Nomura Strategist Saeed Amen has taken a look at brent Crude from a purely technical perspective.
Read more Previous

Euro bearish trend shaping up

Euro bears are getting ready to rush wildly towards the psychological barrier at 1.3000 as one of the main movers of the single currency in a not-so-far past, the manufacturing PMI prints, passed undetected...
Read more Next
Start livechat