GBP/USD TECHNICAL OUTLOOK : 18.10.2016
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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 for medium term , but intraday is a buy on dips
Fundamental Overview
Pound is trading at 1.2230, appreciating in yesterday’s trade as markets await the British high court’s decision on Brexit. Pound would continue to appreciate if the decision is that the parliament would take a call on when to invoke Article 50. There are a lot of data to be reported tomorrow but would be irrelevant as long as Brexit remains in focus.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
14:00:00 GBP CPI (MoM) (Sep) 0.10% 0.30%
14:00:00 GBP CPI (YoY) (Sep) 0.90% 0.60%
14:00:00 GBP PPI Input (MoM) (Sep) 0.40% 0.20%
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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 for medium term , but intraday is a buy on dips
Fundamental Overview
Pound is trading at 1.2230, appreciating in yesterday’s trade as markets await the British high court’s decision on Brexit. Pound would continue to appreciate if the decision is that the parliament would take a call on when to invoke Article 50. There are a lot of data to be reported tomorrow but would be irrelevant as long as Brexit remains in focus.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
14:00:00 GBP CPI (MoM) (Sep) 0.10% 0.30%
14:00:00 GBP CPI (YoY) (Sep) 0.90% 0.60%
14:00:00 GBP PPI Input (MoM) (Sep) 0.40% 0.20%