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26 Oct 2022

GBP/USD to extend its race higher towards the 1.1820 mark – OCBC

GBP/USD extends its run higher. The break past 1.1540 opens up further gains towards 1.1820 levels, analysts at OCBC Bank report.

Benefit of doubt

“For now, it appears that markets are giving Sunak-Hunt the benefit of doubt to come up with a plan to demonstrate that the new government is committed to fiscal discipline.”

“Next resistance at 1.1540 (61.8% fibo retracement of Aug high to Sep low). Decisive break out of those levels may see GBP extend gains towards 1.1820 levels.

“Support at 1.1390 (50DMA), 1.1310 (50% fibo) and 1.1220 (21 DMA).”

 

Oct 26, 2022

Gold Price Analysis: XAU/USD hits two-week high, around $1,675 area amid weaker USD

Gold gains strong positive traction on Wednesday and rallied to a nearly two-week high, around the $1,675 region during the first half of the European
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Oct 26, 2022

UK’s Hunt: Medium-term fiscal plan being delayed to November 17

UK Chancellor Jeremy Hunt announced in a statement on Wednesday, the medium-term fiscal plan is being delayed to November 17. Additional quotes “The d
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