GBP/USD TECHNICAL OUTLOOK:10/24/2016
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
GBP/USD. Pair after opening at 1.2249made a high of 1.2260, and seen some supply at 1.2250 levels but the pair had bounce from the lower levels few days before trading near the 1.22 mark while supports coming at 1.2150- and immediate resistance at 1.2250 so likely to be volatile in this range with supply at higher levels.
Fundamental Overview
Pound is trading at 1.2195, remaining close to the 1.22 mark after a week of consolidation. Economic data failed to help the sterling as Brexit continues to remain in focus. There are no major headlines to be reported from the UK economy this week and price would be dependent on the overall market sentiment and the US dollar strength. We continue to recommend selling the British currency on every rise till the high court verdict is out.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
15:30:00 GBP CBI Industrial Trends Orders (Oct) -4 -5
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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Fundamental Overview
Pound is trading at 1.2195, remaining close to the 1.22 mark after a week of consolidation. Economic data failed to help the sterling as Brexit continues to remain in focus. There are no major headlines to be reported from the UK economy this week and price would be dependent on the overall market sentiment and the US dollar strength. We continue to recommend selling the British currency on every rise till the high court verdict is out.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
15:30:00 GBP CBI Industrial Trends Orders (Oct) -4 -5