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
Octa trading broker
Open trading account
Trading news
Back
30 Apr 2021

GBP/USD tumbles toward 1.3800 lowest in two weeks, as US Dollar soars

  • DXY jumps above 91.00 to the highest level in a week.
  • GBP/USD heads for a weekly loss after being unable to break 1.4000.

The GBP/USD accelerated the decline during the American session and tumbled to 1.3806, reaching the lowest level since April 16. The pair remains under pressure near the lows as the US dollar holds onto important daily gains.

The slide in GBP/USD was triggered by a rally of the US dollar across the board and amid a decline in equity prices. The DXY soared to 91.25, reaching weekly highs. The index gains 0.70% on Friday. In Wall Street, the Dow Jones drops by 0.75% and the Nasdaq by 0.60%.

Technical outlook

Friday’s slide during the American session deteriorated the outlook for the pound. Yohay Elam, Analyst at FXStreet, points out that all in all, “bulls are in the lead but lack absolute control.” He notes the daily chart shows the GBP/USD “is confined to range – from the double-bottom of 1.3670 to the quadruple top of 1.4010. The currency pair's recent upside drift has pushed it above the 50-day Simple Moving Average (SMA) and continues trading above the 100-day and 200-day SMAs. On the other hand, it has been unable to capture the broken uptrend support line that accompanied since late last year and until mid-March.”

Next week is a busy week for cable that could boost volatility with the Bank of England meeting and important US economic data that includes the Non-farm payrolls report on Friday.

Technical levels

 

Apr 30, 2021

US: NY Fed's GDP Nowcast rises to 5.3% for Q2 after this week's data

The US economy is expected to grow by 5.3% in the second quarter of 2021, the Federal Reserve Bank of New York's latest Nowcasting Report showed on Fr
Read more Previous
Apr 30, 2021

Colombia National Jobless Rate: 14.2% (March) vs previous 15.9%

Colombia National Jobless Rate: 14.2% (March) vs previous 15.9%
Read more Next