OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/USD remains bid - Commerzbank

Karen Jones, analyst at Commerzbank, suggests that the GBP/USD pair remains bid following the break through its downtrend recently.

Key Quotes

“The market recently sold off to and recovered from a 5 month support line, today located at 1.2420.”

“We regard the slide to 1.2444 charted recently as the end of the down move and we look for gains to the 200 day ma at 1.3096. Dips will find initial support at the 55 day ma at 1.2781. Below 1.2444/25 targets the 78.6% retracement at 1.2109.”

“Only a rise above the July, September and October highs at 1.3258/1.3363 would put the June high at 1.3473 on the cards.”

 

When are the UK retail sales and how could they affect GBP/USD?

UK retail sales Overview The UK retail sales, scheduled to be published later this session at 0930 GMT, are expected to drop 0.8% m/m in December, fo
Read more Previous

JPY to take cues from BoJ – Westpac

According to Robert Rennie, head of FM strategy at Westpac, the BoJ will be the main event for the JPY, though no change in policy is expected. Key Q
Read more Next
Start livechat