GBP/USD TECHNICAL OUTLOOK : 10.10.2016
NIFTY Fut : BUY ZONE
BANKNIFTY FUT : BUY ZONE
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GBP/USD. Pair after opening at 1.2620 made a high of 1.2623, and seen some selling pressure in the pair ,the pair had support of 1.2500 and the pair after violating 1.2500 mark , had a steep fall falling below 1.20 mark first time after 31years the pair will be volatile in today's session
Fundamental Overview
Pound is trading at 1.2433 after the British pound witnessed a flash crash to levels below the 1.15 in the early trading hours on Friday. There has been no major news at that point which could have caused such a fall. Economic data was reported higher but the “Hard Brexit” phenomenon limited any gains. We expect the currency to remain weak but the risk of a short squeeze exits and could help in some recovery in the pair.
NIFTY Fut : BUY ZONE
BANKNIFTY FUT : BUY ZONE
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GBP/USD. Pair after opening at 1.2620 made a high of 1.2623, and seen some selling pressure in the pair ,the pair had support of 1.2500 and the pair after violating 1.2500 mark , had a steep fall falling below 1.20 mark first time after 31years the pair will be volatile in today's session
Fundamental Overview
Pound is trading at 1.2433 after the British pound witnessed a flash crash to levels below the 1.15 in the early trading hours on Friday. There has been no major news at that point which could have caused such a fall. Economic data was reported higher but the “Hard Brexit” phenomenon limited any gains. We expect the currency to remain weak but the risk of a short squeeze exits and could help in some recovery in the pair.