OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/USD capped by 10-day SMA

FXStreet (Córdoba) - The GBP/USD managed to resume the advance and retested yesterday’s highs during the Asian session, but it was capped once again by the 1.6605 area and confined to a slim range.

The GBP/USD lacked momentum to break above the 10-day SMA (1.6604) and entered a consolidation phase that has extended over the last hours. Today's data might act as a catalyst for the pair, with the US GDP, jobless claims and pending home sales on tap, while UK data includes August consumer confidence.

GBP/USD technical levels


At time of writing, the GBP/USD is trading at 1.6592, still 0.11% above its opening price. A break above 1.6604 (Aug 27 & 28 highs/10-day SMA), would open the way towards 1.6670 (Aug 20 high) and 1.6685 (200-day SMA). On the other hand, supports are seen at 1.6535 (Aug 27 low), 1.6509 (Mar 26 low) and 1.6500 (psychological level).

Asia Recap: Aussie in good shape, likes Aus Capex

The USD kept giving back some of its sizeable gains seen in recent weeks, ending the session as the weakest currency, while the Aussie topped the climbers.
Read more Previous

EUR/USD back to 1.3200

The single currency is returning to the 1.3200 area after lifting the EUR/USD to fresh highs near 1.3220 overnight....
Read more Next
Start livechat