GBP/USD TECHNICAL OUTLOOK : 01.02.2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
Fundamental Overview
Pound is trading at 1.2386, continuing to fall from near the 1.25 levels which were seen yesterday. Pound continued to remain in a trading range between 1.2350 and 1.2550 in the last few week but that is likely to change after the events that unfolded in the US today. There was no data from the UK yesterday and today, we have the manufacturing output to be published. Unless there is some clarity on the Brexit issue, we recommend selling the GBPUSD pair on every rise.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
15:00 GBP Manufacturing PMI (Feb) 55.6 55.9
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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GBP/USD Pair after Opening 1.2436 and made a high of 1.2471 and saw the pair trading side wise till European session but at night the pair violated the strong supports of 1.24 and now trading below that if the pair not able to violate the levels of 1.2420 then we can expect further follow through to continue on the down side, so intraday traders can utilize rise to sell the pair.Fundamental Overview
Pound is trading at 1.2386, continuing to fall from near the 1.25 levels which were seen yesterday. Pound continued to remain in a trading range between 1.2350 and 1.2550 in the last few week but that is likely to change after the events that unfolded in the US today. There was no data from the UK yesterday and today, we have the manufacturing output to be published. Unless there is some clarity on the Brexit issue, we recommend selling the GBPUSD pair on every rise.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
15:00 GBP Manufacturing PMI (Feb) 55.6 55.9