GBP/USD TECHNICAL OUTLOOK : 23.02.2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
Fundamental Overview
Pound is trading at 1.2437, dwindling back from the higher levels near the 1.25 mark. Mixed GDP data dragged the pair lower and the minor sell off in the US dollar failed to induce any strength in the pair. We continue to remain bearish on the Pound and would prefer to sell the pair on every rise going into the UK – EU Brexit negotiations. There is no data to be reported today, we expect the GBPUSD pair to remain in the range of 1.24-1.25 for the day.
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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GBP/USD. Pair after opening at 1.2475 made low of .12420 and recovered in the us session the pair has been in the narrow range of 1.24-.1.2550 for past many day and now 1.24 has become a strong demand zone where buyers are aggressive to enter but the pair is not able to breach 1.2550 and likely to remains in the said range so intraday buying near 1.24 is any good option in limited risk of 30-40 points so utilize the dips to enter the pair.Fundamental Overview
Pound is trading at 1.2437, dwindling back from the higher levels near the 1.25 mark. Mixed GDP data dragged the pair lower and the minor sell off in the US dollar failed to induce any strength in the pair. We continue to remain bearish on the Pound and would prefer to sell the pair on every rise going into the UK – EU Brexit negotiations. There is no data to be reported today, we expect the GBPUSD pair to remain in the range of 1.24-1.25 for the day.