Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Trading news
Back
13 Dec 2024

GBP/USD: Any decline is expected to face significant support at 1.2610 – UOB Group

Sharp sell-off seems excessive; the Pound Sterling (GBP) is likely to consolidate in a 1.2650/1.2725 range. In the longer run, bias for GBP appears to be tilted to the downside; any decline is expected to face significant support at 1.2610, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.

GBP appears to be tilted to the downside

24-HOUR VIEW: “Yesterday, we expected GBP to ‘trade in a sideways range of 1.2720/1.2785.’ GBP then rose a couple of pips above the upper end of our expected range (high has been 1.2787) before staging a surprisingly sharp drop, reaching a low of 1.2668. GBP closed lower by 0.61% at 1.2673. The sharp and swift sell-off seems excessive, and GBP is unlikely to weaken much further. Today, it is more likely to consolidate its loss, most likely trading in a range of 1.2650/1.2725.”

1-3 WEEKS VIEW: “We have a held positive GBP view since early this week. On Wednesday (11 Dec, spot at 1.2775), we highlighted that ‘upward momentum is beginning to slow, and GBP has to break above and hold above 1.2810 within these 1 to 2 days, or the chance of a rise to 1.2850 will diminish quickly.’ Yesterday (Thursday), GBP plummeted, breaking below our ‘strong support’ level at 1.2700. Upward momentum has dissipated. Downward momentum has increased slightly, and the bias for GBP appears to be tilted to the downside. That said, any decline is expected to face significant support at 1.2610. The downward bias will remain intact provided that the ‘strong resistance’ level, currently at 1.2755, is not breached.”

Dec 13, 2024

Bundesbank: German economy to shrink 0.2% this year, grow 0.2% in 2025

The German central bank, Bundesbank, predicted in its monthly report published on Friday that the economy is set to expand only modestly next year after a decline of 0.2% in Gross Domestic Product (GDP) this year.
Read more Previous
Dec 13, 2024

Gold extends losses with the Dollar supported by higher yields

Gold rally fails at around $2,720 and pares previous gains amid higher US yields.
Read more Next