Wednesday, February 8, 2017

GBP/USD TECHNICAL OUTLOOK : 08.02.2017

GBP/USD TECHNICAL OUTLOOK : 08.02.2017
NIFTY FUT  TREND             : SELL ZONE
BANKNIFTY FUT  TREND  : SELL ZONE


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GBP/USD. Pair after opening at at 1.2467 made a high of 1.2547 on last trading day and was trading with negative bias ,the pair after violating the levels of 1.24 had a strong intraday trend on down side and made a low of 1.2345 and reversed in overnight market and made bullish candle so intraday dips shall be utilize to buy the pair.

Fundamental Overview

Pound is trading at 1.2506, rebunding against US dollar in the overnight session. We have seen GBPUSD pair making a high of 1.2544 recovering from the lows of 1.2347 that were seen yesterday. Article 50 debates continue in UK Parliament. Halifax House Price Index numbers were reported lower than expected. No data to be published today. Any news related to Brexit and US dollar strength would drive the pair.