OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: GBP/USD retraces morning decline ahead of BoE

FXstreet.com (Barcelona) - GBP/USD has started to retrace its steep overnight and morning decline, ahead of today´s BoEmeeting.

The pair slide sharply this morning from yesterday´s high of 1.5158, to post a low at 1.5033, but has since started to retrace its slump and is currently trading at 1.5071, just below the 38.2% Fibonacci retracement point at 1.5081, from yesterdays high. Today´s daily S1 support can be found at 1.5084, as can yesterdays lows, and may act as short term resistance to spots recovery. Hourly RSI sits at 34, having flattened following its decline. The pending BoE meeting at 12:00 GMT is forecasted to show no change in interest rates and asset purchases.

Forex: EUR/USD regain 1.2800

After dipping to fresh lows in the vicinity of 1.2780, the shared currency managed to gather some traction and trade back around the key mark of 1.2800 on Thursday, ahead of the ECB statement due later...
Read more Previous

Kuroda: BoJ actions aimed at reaching 2% inflation target in 2 years

Bank of Japan Governor Haruhiko Kuroda surprised the markets during his first monetary policy meeting by introducing radical changes such as the decision to double the central bank’s monetary base through JGBs and ETFs in 2 years or to alter the target for money-market operations.
Read more Next
Start livechat