GBP/USD TECHNICAL OUTLOOK : 05.10.2016
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GBP/USD. Pair after opening at 1.2840 made a high of 1.2861, and seen some selling pressure in the pair ,the pair had support of 1.2870 and the pair after violating 1.2870 mark , saw some more selling pressure now 1.2700 supports are also likely to be violate and thus pair is can go further lower so utilize any rise to sell the pair
Fundamental Overview
Pound is trading at 1.2729, continuing with its downward move with no respite from the fall that started after the British PM indicated her willingness to invoke Article 50 by the end of March. Pound made a new 31 year low yesterday and could head lower towards the 1.25 mark as markets continue to react to the Brexit news. Economic data, though positive failed to have any significant positive affect on the Pound and we expect the trend to continue for the day even if strong services PMI could provide a temporary boost.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
14:00:00 GBP BoE MPC Member Broadbent Speaks
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Fundamental Overview
Pound is trading at 1.2729, continuing with its downward move with no respite from the fall that started after the British PM indicated her willingness to invoke Article 50 by the end of March. Pound made a new 31 year low yesterday and could head lower towards the 1.25 mark as markets continue to react to the Brexit news. Economic data, though positive failed to have any significant positive affect on the Pound and we expect the trend to continue for the day even if strong services PMI could provide a temporary boost.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
14:00:00 GBP BoE MPC Member Broadbent Speaks