GBP/USD TECHNICAL OUTLOOK : 07.02.2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
Fundamental Overview
Pound is trading at 1.2465, continuing to trade on a weaker note with no respite. Markets are pricing in a possibility of Article 50 being invoked by the first week of March as the House of Commons has passed the discussion on Brexit negotiations. No data to be published today and focus would be on the US dollar strength and we would like to sell the pair above the 1.25 handle.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
05:31:00 GBP BRC Retail Sales Monitor (YoY) (Jan) -0.60% 0.80% 1.00%
14:00:00 GBP Halifax House Price Index (MoM) (Jan) 0.20% 1.70%
14:00:00 GBP Halifax House Price Index (YoY) (Jan) 6.00% 6.50%
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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GBP/USD. Pair after opening at at 1.2491 made a high of 1.2507 on last trading day and was trading with some negative bias ,the pair not able to sustain above 1.27 few days back and reversed but on the down side strong supports comes at 1.24 so until that is violated buying near the support can be done.Fundamental Overview
Pound is trading at 1.2465, continuing to trade on a weaker note with no respite. Markets are pricing in a possibility of Article 50 being invoked by the first week of March as the House of Commons has passed the discussion on Brexit negotiations. No data to be published today and focus would be on the US dollar strength and we would like to sell the pair above the 1.25 handle.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
05:31:00 GBP BRC Retail Sales Monitor (YoY) (Jan) -0.60% 0.80% 1.00%
14:00:00 GBP Halifax House Price Index (MoM) (Jan) 0.20% 1.70%
14:00:00 GBP Halifax House Price Index (YoY) (Jan) 6.00% 6.50%