OctaFX | OctaFX Forex Broker
Open trading account

GBP/USD bid above 1.3338 – Commerzbank

Cable remains bid while above the 1.3338 area, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

GBP/USD recently eroded major resistance at 1.3445, we have seen a weekly close above the 2014-2017 downtrend. The move above the downtrend has introduced scope to the 1.3658 September high. It stays immediately bid above the 1.3338 mid October high. We note the 13 count on the 240 minute chart and will wait to buy the dip”.

“Only below 1.3338 would alleviate immediate upside pressure and allow for weakness back to the 1.3130 2016-2017 uptrend”.

“The 1.3130 2014-17 uptrend represents the break down point to 1.2830/1.2774, the 38.2% retracement and August low, and the 1.2575 50% retracement”.

RBA to keep the cash rate on hold at 1.5% - TDS

Analysts at TD and consensus expect the RBA to keep the cash rate on hold at 1.5% at tomorrow’s meeting. Key Quotes “We expect the Bank to reaffirm
Read more Previous

EUR/USD a test of 1.20 still appears elusive – Danske Bank

Senior Analyst at Danske Bank Jens Pedersen assessed the prospects for the pair in the near term. Key Quotes “EUR/USD saw a brief jump above 1.19 on
Read more Next
Start livechat