Octa trading broker
Open trading account

Forex: GBP/USD in 6-month lows, below 1.5640

The sterling is rapidly losing ground against the buck on Tuesday, falling to levels last seen in August 2011 around 1.5640, as bearishness around GBP is growing bigger.

According to expert Karen Jones at Commerzbank, the recent failed attempt to break above the 200-day moving average at 1.5889 would hint a descent to test 1.5689 en route to 1.5632. “We would expect this to hold the initial test, but longer term, we in fact favour a break below here to 1.5271/35, the 2012 low”, assessed the analyst.

At the moment, the cross is down 0.82% at 1.5634 facing the next support at 1.5608 (Lower Bollinger).
On the flip side, a surpass of 1.5879 (high Feb.1) would aim for 1.5889 (MA200d).

Euro resumes uptrend with ECB in sight

The euro is trading firmer versus the dollar after a volatile session, which saw EUR/USD bottom at 1.3460 and bounce back to near 1.3600 amid unconfirmed rumors and media reports suggesting the shared currency isn't strong enough to trigger ECB action.
Read more Previous

La libra esterlina pierde rápidamente terreno frente al billete verde hoy martes, cayendo a niveles vistos por última vez en agosto de 2012 alrededor de 1.5640

US shares are inching higher on Tuesday, after blue-chips’ earnings reports exceeded expectations and a better tone in the European markets. The greenback, measured by the US Dollar Index, is a tad lower...
Read more Next