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Day: October 27, 2020
October 272020
USD/KRW Declines As South Korea Exits Recession in Q3
The South Korean won is recording modest gains against multiple currency rivals on Tuesday as the nation’s economy returned to growth in the third quarter. After enduring the sharpest economic downturn in more than a decade, Seoul was able to resuscitate the economy through a series of COVID-19 stimulus measures and surging exports. During the July-to-September period, the gross domestic product (GDP) advanced 1.9%, following a 3.2% slide in the second quarter. The market had penciled […]
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October 272020
Bears Testing the 1.3000 Level on GBP/USD
The Great Britain pound versus the United States dollar currency pair has to make a decision: above or beneath 1.3000? Long-term perspective After validating the firm level of 1.2092 as support, the price started an ascending trend, one that came very close to the 1.3502 intermediary level. However, reaching 1.3502 meant passing a triple resistance area made up of the 1.3261 level, the upper line of the ascending channel, and the descending line. But as the retracement […]
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