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
14 Mar 2023

GBP/USD Price Analysis: Bulls about to show their commitments

  • GBP/USD´s M-formation as a reversion pattern could see price drawn to the neckline.
  • GBP/USD is meeting a 78.6% Fibonacci level of the prior bullish impulse.

As per the prior analysis, GBP/USD Price Analysis: Bears seek a break of structure while price slows below 1.2200, the bears are staying the course in a drift to the downside ahead key US data today. 

GBP/USD prior analysis

It was stated that the price was still very much on the front side of the trend. However, the analyses also noted that the hourly micro trendline was under some pressure while a break of the 1.2140 structure was needed to cement the bearish case for the day ahead. 

GBP/USD update

The price has fallen into a key territory where demand might be expected:

The M-formation is a reversion pattern that tends to see the price drawn to the neckline. The price is also meeting a 78.6% Fibonacci level of the prior bullish impulse which may see a deceleration in the downside for the hours ahead. Resistance at the neckline near 1.2175 could see a rejection and a subsequent downside continuation to fully test the bull´s commitments in the 1.21s. 

Mar 14, 2023

US inflation expectations drop to five-week low ahead of CPI release

Markets remain dicey during early Tuesday as traders await the key US Consumer Price Index (CPI) data for February, as well as taking a breather after
Read more Previous
Mar 14, 2023

Silver Price Analysis: Key EMAs prod XAG/USD bulls at three-week high near $22.00

Silver price (XAG/USD) slides to around $21.70 as bulls take a breather following the biggest daily jump in more than four months. With this, the brig
Read more Next