OctaFX | OctaFX Forex Broker
Open trading account

GBP/USD: Nearing critical resistance

GBP/USD Wednesday's four-hour chart is showing that the cable is nearing critical resistance, as FXStreet’s analyst Yohay Elam notes.

Key quotes

“Pound/dollar is battling 1.1925, which was a swing high last week and the break above it is yet to be confirmed. On the way up, the currency pair broke above the 50 Simple Moving Average on the four-hour chart and momentum has turned positive.”

“Resistance awaits at 1.20, a round number that provided support last week. The next level to watch is 1.2120.”

“Support awaits at 1.18, which was a swing high last week, followed by 1.1710, which held it down early this week.”


Germany RKI: We are standing at the beginning of an epidemic

Germany's Robert Koch Institute (RKI) Chief Lothar Wieler warned on Wednesday, “we are standing at the beginning of an epidemic.” Key comments Need to
Read more Previous

Eurozone: Policymakers design a much more serious response – ABN Amro

There has been a flurry of announcements by governments of measures to support the eurozone economy in the face of the major coronavirus shock. Econom
Read more Next
Start livechat