OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: GBP/USD eased to 1.5220 on UK sales

FXstreet.com (Barcelona) - The sterling is grinding lower on Thursday after the retail sales in the British economy posted an annual contraction of 0.5% in March, and rose 0.4% on a yearly basis excluding fuel.

According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the cross “has at last sold off confirming 1.5412/20, the recent high and the 38.2% retracement, as an interim high. Loss of the 1.5154 uptrend will add weight to the idea that the market has resumed its down move”.

At the moment, the cross is down 0.11% at 1.5222 and a drop beyond 1.5217 (low Apr.17) would then target 1.5199 (low Apr.5) and finally 1.5034 (low Apr.4).
On the upside, resistance levels align at 1.5370 (high Apr.17) followed by 1.5386 (high Apr.15) and then 1.5409 (high Apr.12).

Forex: EUR/GBP at fresh highs following UK retail sales

The EUR/GBP continued its advance after the publication of economic data in the United Kingdom Thursday. During European trading, the pair edged higher to the 0.8566/70 level, establishing fresh session highs in these moments.
Read more Previous

Forex Flash: EUR/USD headed to 1.20 - Societe Generale

Sebastien Galy, Senior FX Strategist at Societe Generale has taken a structural look at the prospects for EUR/USD looking forward and believes that price can move to 1.20.
Read more Next
Start livechat