GBP/USD TECHNICAL OUTLOOK : 17.10.2016
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GBP/USD. Pair after opening at 1.2246 made a low of 1.2167, 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, but overall pair is likely to find resistance at higher levels so any rise is a shorting opportunity in GBP
Fundamental Overview
Pound is trading at 1.2160, continuing with its downward trend after a brief bounce in Friday’s session. Markets would be awaiting the British high court decision which would decide who would be taking the call to invoke article 50. Expect the Pound to slide further if the court rules in favour of the British PM, else we can expect a quick turnaround.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:15:00 GBP BoE MPC Member Broadbent Speaks
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GBP/USD. Pair after opening at 1.2246 made a low of 1.2167, 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, but overall pair is likely to find resistance at higher levels so any rise is a shorting opportunity in GBP
Fundamental Overview
Pound is trading at 1.2160, continuing with its downward trend after a brief bounce in Friday’s session. Markets would be awaiting the British high court decision which would decide who would be taking the call to invoke article 50. Expect the Pound to slide further if the court rules in favour of the British PM, else we can expect a quick turnaround.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:15:00 GBP BoE MPC Member Broadbent Speaks