GBP/USD TECHNICAL OUTLOOK 14.10.2016
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GBP/USD. Pair after opening at 1.2194 made a low of 1.2130, and seen some bounce from the lower levels as the pair remains oversold with RSI indicators at 26.50 on the daily time frame , the pair made a spike low of 1.1943 few days back that low is likely to hold in the pair for the near term so short term pair can bounce
Fundamental Overview
Pound is trading at 1.2241, appreciating against the backdrop of UK PM allowing the parliament to decide on the negotiations on Brexit. The British high court would decide on the Parliaments’ role in Brexit negotiations and would drive the pair’s volatility. If a delay in the negotiations is perceived by investors, we can expect a continued rally; else a quick reversal is on the cards.
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Fundamental Overview
Pound is trading at 1.2241, appreciating against the backdrop of UK PM allowing the parliament to decide on the negotiations on Brexit. The British high court would decide on the Parliaments’ role in Brexit negotiations and would drive the pair’s volatility. If a delay in the negotiations is perceived by investors, we can expect a continued rally; else a quick reversal is on the cards.