GBP/USD TECHNICAL OUTLOOK : 3.11.2016
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
GBP/USD. Pair after opening at 1.2244 made a high of 1.2322, and seen some buying from the lower levels near 1.2270 levels but the pair was finding resistance at 1.2340 and the pair is trading in a broader range of 1.24-1.2200 with oscillator front RSI remains oversold so likely to see some volatility going ahead in the above mentioned range
STRATEGY
Fundamental Overview
Pound is trading at 1.2329, appreciating considerably after the construction PMI data beat expectations. Focus would be on the bank of England inflation report, meeting minutes and the speech from Mark Carney. It is unlikely that the bank would cut rates at this meeting. Pound is set to stabilize and we continue to prefer selling rallies.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
3:00:00 PM GBP
Services PMI (Oct) 52.4 52.6
5:30:00 PM
GBP
BoE Inflation Report 5:30:00 PM
GBP Interest Rate Decision (Nov)
0.25%
0.25%
5:30:00 PM GBP
BoE MPC Meeting Minutes
6:00:00 PM
GBP BoE Gov Carney Speaks
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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STRATEGY
Fundamental Overview
Pound is trading at 1.2329, appreciating considerably after the construction PMI data beat expectations. Focus would be on the bank of England inflation report, meeting minutes and the speech from Mark Carney. It is unlikely that the bank would cut rates at this meeting. Pound is set to stabilize and we continue to prefer selling rallies.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
3:00:00 PM GBP
Services PMI (Oct) 52.4 52.6
5:30:00 PM
GBP
BoE Inflation Report 5:30:00 PM
GBP Interest Rate Decision (Nov)
0.25%
0.25%
5:30:00 PM GBP
BoE MPC Meeting Minutes
6:00:00 PM
GBP BoE Gov Carney Speaks