GBP/USD TECHNICAL OUTLOOK : 09.02.2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
Fundamental Overview
Pound is trading at 1.2506, topping out at 1.2550 in yesterday’s trade. There was no major data from the UK yesterday but fund flows and US dollar influenced the price action. After being beaten down considerably, we can expect such a pull back and this has to be used to sell again as long term trend outlook remains weak for the pound.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
5:31 GBP RICS House Price Balance (Jan) 22% 24%
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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GBP/USD. Pair after opening at at 1.2508 made a high of 1.2550 on last trading day and was trading with some positive bias ,the pair after violating the levels of 1.24 had a strong intraday trend a day before on down side and made a low of 1.2345 and reversed so now 1.24 will become a strong base while strong resistance come at 1.27 so likely to trade within the range with positive bias.Fundamental Overview
Pound is trading at 1.2506, topping out at 1.2550 in yesterday’s trade. There was no major data from the UK yesterday but fund flows and US dollar influenced the price action. After being beaten down considerably, we can expect such a pull back and this has to be used to sell again as long term trend outlook remains weak for the pound.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
5:31 GBP RICS House Price Balance (Jan) 22% 24%