GBP/USD TECHNICAL OUTLOOK:10/19/2016
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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GBP/USD. Pair after opening at 1.2246 made a high of 1.2324, 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 sell near the supply zone
Fundamental Overview
Pound is trading at 1.2289, appreciating in yesterday’s trade as markets after comments from James Eadiem a lawyer representing the UK government hinted that the parliament might have to take a call on invoking Article 50. Wage data is due to be reported today and is likely to add to the volatility. No news about the high court decision has been announced yet we recommend selling rallies in the pair.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
2:00:00 PM GBP Average Earnings Index +Bonus (Aug) 2.30% 2.30%
2:00:00 PM GBP Claimant Count Change (Sep) 3.0K 2.4K
2:00:00 PM GBP Unemployment Rate (Aug) 4.90% 4.90%
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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GBP/USD. Pair after opening at 1.2246 made a high of 1.2324, 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 sell near the supply zone
Fundamental Overview
Pound is trading at 1.2289, appreciating in yesterday’s trade as markets after comments from James Eadiem a lawyer representing the UK government hinted that the parliament might have to take a call on invoking Article 50. Wage data is due to be reported today and is likely to add to the volatility. No news about the high court decision has been announced yet we recommend selling rallies in the pair.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
2:00:00 PM GBP Average Earnings Index +Bonus (Aug) 2.30% 2.30%
2:00:00 PM GBP Claimant Count Change (Sep) 3.0K 2.4K
2:00:00 PM GBP Unemployment Rate (Aug) 4.90% 4.90%