GBP/USD TECHNICAL OUTLOOK : 3.3.2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
Fundamental Overview
Pound is trading at 1.2268, clocking in a fifth straight losing session as investors are pricing in a stronger dollar going into the March meeting. Up moves in the pair remain highly unlikely as UK prepares for the exit negotiations with EU, which are to commence in a months’ time and the possibility of a Scottish referendum would add to this weakness. We continue to remain bearish on the Pound and will recommend fading any upticks.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
15:00 GBP Services PMI (Feb) 54.1 54.5
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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GBP/USD Pair closed at 1.2264 around 0.2% lower than the previous close, after testing 1.2240, which stands a s a major support level for today which if breached, will take the pound further in the downside to see 1.2180. A bounce from the current levels to 1.2300 could be used to initiate sell positions for intraday traders holding a stop at 1.2330.Fundamental Overview
Pound is trading at 1.2268, clocking in a fifth straight losing session as investors are pricing in a stronger dollar going into the March meeting. Up moves in the pair remain highly unlikely as UK prepares for the exit negotiations with EU, which are to commence in a months’ time and the possibility of a Scottish referendum would add to this weakness. We continue to remain bearish on the Pound and will recommend fading any upticks.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
15:00 GBP Services PMI (Feb) 54.1 54.5