OctaFX | OctaFX Forex Broker
Open trading account

Forex: GBP/USD falls below 1.5500

FXstreet.com (Córdoba) - Following a phase of quiet consolidation within a 30-pip range, GBP/USD finally broke out to the downside and slipped below the 1.5500 mark to hit a fresh weekly low as risk sentiment turned around.

GBP/USD has dropped over 40 pips within the last minutes and hit a low of 1.5481, last seen on May 3, before slowing the slide. At time of writing, the Cable is trading around 1.5485, where it posts a 0.3% daily loss.

In terms of technical levels, if next supports are seen at 1.5479 (low May 3) and 1.5417 (low Apr 26). On the flip side, resistances could be found at 1.5520 (former support level) and 1.5550 (100-hour SMA).

Forex Flash: The BOK is not like the ECB this time - Nomura

Nomura economist, Young Sun Kwon notes that unlike in the euro area, Korea's GDP growth accelerated in Q1 and he expects the Bank of Korea to stay on hold at 2.75% this Thursday despite the ECB cutting rates by 25bp to 0.50% last week.
Read more Previous

Forex: USD/CHF up to 0.9415 area on US session

Risk taking is getting out of the equation as US stocks open with losses, allowing the USD/CHF to move higher, above the 0.9400 mark to as high as 0.9416. The pair has been shy of returning to the daily high at 0.9436, printed after intense CHF selling during the European morning. The market is up by +0.35%, as of writing.
Read more Next
Start livechat