GBP/USD TECHNICAL OUTLOOK : 22.12.2016
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
GBP/USD. Pair after opening at 1.2369 made a low of 1.2315, and seen some selling coming in from the 1.24 levels and the pair tested the levels of 1.2315 and reversed but 1.2400 will act as a major resistance and likely to find supply there so remains sell at rise going ahead as the pair has been making lower top and bottom on long term charts.
Fundamental Overview
Pound is trading at 1.2365, traded in a narrow range in yesterday’s session and was unable to sustain above the 1.24 mark despite the US dollar weakness that was seen yesterday. Current account and revised Q3 GDP data are scheduled to be reported today but we do not see heavy movement ahead.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
15:00:00 GBP Curren t Account (Q3) -28.7B
15:00:00 GBP GDP (QoQ) (Q3) 0.50%
15:00:00 GBP GDP (YoY) (Q3) 2.30%
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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GBP/USD. Pair after opening at 1.2369 made a low of 1.2315, and seen some selling coming in from the 1.24 levels and the pair tested the levels of 1.2315 and reversed but 1.2400 will act as a major resistance and likely to find supply there so remains sell at rise going ahead as the pair has been making lower top and bottom on long term charts.
Fundamental Overview
Pound is trading at 1.2365, traded in a narrow range in yesterday’s session and was unable to sustain above the 1.24 mark despite the US dollar weakness that was seen yesterday. Current account and revised Q3 GDP data are scheduled to be reported today but we do not see heavy movement ahead.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
15:00:00 GBP Curren t Account (Q3) -28.7B
15:00:00 GBP GDP (QoQ) (Q3) 0.50%
15:00:00 GBP GDP (YoY) (Q3) 2.30%