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
Test
Trading news
Back
2 Mar 2020

GBP/USD risks a deeper pullback in the near-term – UOB

Cable remains under pressure and risks extra retracements in the near-term, according to FX Strategists at UOB Group.

Key Quotes

24-hour view: “The sudden and sharp plunge in GBP last Friday came as a surprise as it cracked several strong support levels with ease and hit a 4- 1/2 -month low of 1.2726 before rebounding. While further GBP weakness appears likely in the days ahead, the rapid short-term drop is running ahead of itself. From here, GBP is expected to consolidate and trade between 1.2735 and 1.2855.”

Next 1-3 weeks: “While we indicated last Friday that a ‘NY close below 1.2800 would suggest GBP is ready to embark of a sustained decline’, we were of the view ‘the prospect for such a scenario is low for now’. However, GBP sliced through 1.2820 and plunged to a 4-1/2 -month low of 1.2726 before snapping back up to end the day at 1.2821 (-0.48%). The break of 1.2820 has exposed the downside in GBP even though 1.2700 is a strong support and may not come into the picture so soon. To look at it another way, GBP could consolidate for a couple of days first before making a run for 1.2700. On the upside, only a move above 1.2900 (‘strong resistance’ level) would indicate that GBP is not ready to move lower just yet.”

Mar 2, 2020

GBP Futures: Further downside not ruled out

In light of advanced data for GBP futures markets from CME Group, investors added more than 15K contracts to their open interest positions on Friday,
Read more Previous
Mar 2, 2020

Forex Today: Potential coordinated coronavirus action cheered, critical US data eyed, Gold glitters again

Here is what you need to know on Monday, March 2: Markets are trying to recover after fears from the coronavirus outbreak triggered a massive selloff
Read more Next