Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirepro: GBP/USD on front-foot ahead of BoE, trades above 200-DMA

Early on the day Cable weakened from the NY session high of 1.5339, upside was capped by 200-DMA at 1.5317 in the Asian session  

  • Small spike seen into the European open, pair edges higher, trades above 200 DMA
     
  • Markets await Bank of England rate decision, tone of the minutes will be keenly watched 
     
  • Action in the EUR/GBP after the release of the ECB accounts/minutes could affect the cable
     
  • GBP/USD is currently trading at 1.5331 with immediate resistance at 1.5340 (Daily High Oct 7) and support at 1.5300 (Hourly Low Oct 8)
     

Resistance Levels:

R1: 1.5340 (Daily High Oct 7)

R2: 1.5364 (Daily High Sept 23)

R3: 1.5383 (Kijun, 50% 1.5659-1.5107)

Support Levels:

S1: 1.5300 (Hourly Low Oct 8)

S2: 1.5223 (Daily Low Oct 7)

S3: 1.5141 (Daily Low Oct 6)

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.