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
20 Aug 2020

GBP/USD now seen between 1.3000 and 1.3230 – UOB

Cable is expected to remain side-lined for the time being, likely between 1.30 and 1.3230, in opinion of FX Strategists at UOB Group.

Key Quotes

24-hour view: “We expected ‘further GBP strength’ yesterday. GBP subsequently rose to a fresh high of 1.3266 before plunging suddenly and sharply during NY hours. The rapid drop appears to be running ahead of itself. That said, the decline appears to have enough impetus to extend lower towards 1.3060. For today, a sustained move below this level is unlikely. Resistance is at 1.3135 followed by 1.3175.”

Next 1-3 weeks: “While we have got our calls wrong before, it is not often that we were proven wrong within a single day. Yesterday (19 Aug, spot at 1.3245), we held the view that GBP ‘could advance further to 1.3340’. GBP subsequently rose to a fresh high of 1.3266 before staging a sharp sell-off that sent it below our ‘strong support’ level at 1.3120 (low of 1.3095). The price actions resulted in an ‘outside reversal bar’ and suggest that 1.3266 could be a short-term top. While GBP is likely to trade below 1.3266 for now, it is premature to expect the start of a major reversal (after the recent strong rally in recent weeks). From here, GBP is more likely to consolidate and trade between 1.3000 and 1.3230. Looking forward, if there is a clear break of 1.3000, it would increase the risk of a more sustained and deeper pullback in GBP.”

Aug 20, 2020

Gold Futures: Scope for further pullbacks

Traders scaled back their open interest positions in Gold futures markets by almost 4K contracts on Wednesday, according to preliminary figures from C
Read more Previous
Aug 20, 2020

Asian stock market: Bears cheer virus-led economic woes

Shares in Asia part ways from the seven-month top flashed the previous day as fears of the larger coronavirus (COVID-19) wave 2.0 joins downbeat FOMC
Read more Next