OctaFX | OctaFX Forex Broker
Open trading account

Forex: GBP/USD eases to 1.5126/28

FXstreet.com (Barcelona) - The GBP/USD found itself in escape velocity, crashing towards a session low of the 1.5026 level (session low) earlier today on weak data in the UK. However, following a rally towards the 1.5160 region, the pair has once again eased towards the 1.5126/28 handle, up +0.20% Wednesday in these moments.

“The GBP/USD is biased to the downside, however the outlook remains limited above the key resistance level of the downside move since breaking below the 1.5300 levels. Moreover, the current bearish move might benefit the pair by unloading negativity on momentum indicators.” warns the ICN.com analyst team.

According to Research Analyst Gareth Berry at UBS, “We reiterate out bearish stance on the GBP/USD as a closing cross lower in momentum would signal resumption of the bearish trend. Support is at 1.5004, ahead of 1.4832, while resistance is at 1.5199.”

Forex Flash: Thursday reopening now appears tenuous in Cyprus – UBS

The Cypriot parliament voted against a proposal to seize deposits from accounts held in Cypriot banks. Not even a single lawmaker in the 56-seat parliament voted in favor of the plan. The party of President Anastasiades abstained en masse even though he negotiated the bailout plan on Friday night. In fact the bill which was finally submitted to parliament included an amendment which would make deposits of less than €20k exempt, but even this gesture was not enough to secure parliamentary approval.
Read more Previous

Cyprus officials discuss alternatives to EU aid package

Following the Cyprus parliament’s rejection of the EU rescue plan on Tuesday evening, the president Nicos Anastasiades has begun a meeting with party leaders and the central bank governor Panicos Demetriades on Wednesday morning in order to reach an agreement on an alternative proposition, less strainful for private depositors.
Read more Next
Start livechat