GBP/USD TECHNICAL OUTLOOK : 14.02.2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
Fundamental Overview
Pound is trading at 1.2523, traded in a range of 1.2535 – 1.2480 for the day. Position adjustments were the only reasons for the price action and this will continue today with the UK inflation and PPI data scheduled to be reported in the afternoon. We continue to recommend using higher levels to sell the British Pound in the months to come as the Brexit negotiations begin.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
15:00 GBP CPI (MoM) (Jan) -0.50% 0.50%
15:00 GBP CPI (YoY) (Jan) 1.90% 1.60%
15:00 GBP PPI Input (MoM) (Jan) 1.00% 1.80%
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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GBP/USD. Pair after opening at at 1.2485 made a high of 1.2540 on last trading day and was trading with some sidewise bias ,the pair after violating the levels the levels of 1.2400 few days back and bounced signifying strong support of 1.24 but resistance are coming near 1.27 so pair is likely to trade in the range of 1.24-1.27 in the short term until the pair violates the levels of 1.2450 dips is a buying opportunity.Fundamental Overview
Pound is trading at 1.2523, traded in a range of 1.2535 – 1.2480 for the day. Position adjustments were the only reasons for the price action and this will continue today with the UK inflation and PPI data scheduled to be reported in the afternoon. We continue to recommend using higher levels to sell the British Pound in the months to come as the Brexit negotiations begin.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
15:00 GBP CPI (MoM) (Jan) -0.50% 0.50%
15:00 GBP CPI (YoY) (Jan) 1.90% 1.60%
15:00 GBP PPI Input (MoM) (Jan) 1.00% 1.80%