GBP/USD TECHNICAL OUTLOOK:28.10.2016
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
GBP/USD. Pair after opening at 1.2237 made a high of 1.2272, and seen some supply near 1.220 levels but the pair was finding supports at 1.2200 but the pair is trading in a broader range of 1.23-1.2100 with oscillator front RSI remains oversold so likely to see some volatility going ahead.
Fundamental Overview
Pound is trading at 1.2172, failing to rush higher after making a high of 1.2272 in yesterday’s session.
Positive GDP report helped the Pound rally initially but the larger concerns surrounding Brexit remained an obstacle for the pair. We continue to remain bearish on Pound and recommend selling every rise in the currency. US GDP report. If positive can drive the pair lower towards the 1.21 levels.
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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Fundamental Overview
Pound is trading at 1.2172, failing to rush higher after making a high of 1.2272 in yesterday’s session.
Positive GDP report helped the Pound rally initially but the larger concerns surrounding Brexit remained an obstacle for the pair. We continue to remain bearish on Pound and recommend selling every rise in the currency. US GDP report. If positive can drive the pair lower towards the 1.21 levels.