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Forex: GBP/USD extends decline and tests the 1.5100

FXstreet.com (San Francisco) - The Sterling is currently extending its decline against the greenback and after consolidating between 1.5110 and 1.5120, the GBP/USD is falling further to test the 1.5100 frontier. Currently the pair is trading at 1.5105.

With 0.82% daily losses from opening price, the GBP/USD is slightly bearish according to the FXstreet.com technical studies. Indicators such as MACD, CCI and Momentum are bearish while the Stochastic is bullish in the 1-hour chart.

Below the 1.5100 level, next supports are at 1.5090 and 1.5040. On the upside, resistances are at 1.5120, 1.5130 and 1.5180.

Forex Flash: AUD/USD looks to target 1.0400 – Westpac

According to Global FX Strategist Sean Callow at RBS, “The rapid rebuild of spec long AUD positions since early March hints at waning confidence in broad USD measures. Commodity prices remain mostly unhelpful for AUD – local data will need to beat expectations for the AUD/USD to spend much time above 1.0500, with 1.0400 handle more comfortable.”
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Forex Flash: We remain sellers of EUR/USD on rallies for now - Rabobank

With almost 1000 pips lost in two months from the February 1st high at 1.3710 to the last week low at 1.2755, the EUR/USD recovered on Monday and early Tuesday session to test 1.2880 region, but after being rejected by this level, the pair is currently trading at 1.2815. Has the Euro bottoming at 1.2755? Rabobank says no.
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