GBP/USD TECHNICAL OUTLOOK : 11.10.2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
GBP/USD. Pair after opening at 1.2171 made a high of 1.2190, and could not sustain the higher levels selling at a higher levels the pair made a low below 1.2115 and bounced now trading near the resistance of 1.22 so if not sustain can be sold with the of 1.2130levels for the day.
Fundamental Overview
Pound is trading at 1.2186, after an attempt to the break the 1.21 mark in yesterdays session. Concerns about UK's exit from the EU after the PM's comments drove the pair lower but 1.21 is acting as a strong support and we need another round of negative news to break the level. Lot of data to be reported today from the UK and the reaction to the outcome would be the driver for pound.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
15:00 GBP Industrial Production (MoM) (Nov) 0.80% -1.30%
15:00 GBP Manufacturing Production (MoM) (Nov) 0.50% -0.90%
15:00 GBP Trade Balance (Nov) -11.20B -9.71B
15:00 GBP Trade Balance Non-EU (Nov) -3.00B -1.60B
20:30 GBP NIESR GDP Estimate 0.50% 0.40%
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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Fundamental Overview
Pound is trading at 1.2186, after an attempt to the break the 1.21 mark in yesterdays session. Concerns about UK's exit from the EU after the PM's comments drove the pair lower but 1.21 is acting as a strong support and we need another round of negative news to break the level. Lot of data to be reported today from the UK and the reaction to the outcome would be the driver for pound.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
15:00 GBP Industrial Production (MoM) (Nov) 0.80% -1.30%
15:00 GBP Manufacturing Production (MoM) (Nov) 0.50% -0.90%
15:00 GBP Trade Balance (Nov) -11.20B -9.71B
15:00 GBP Trade Balance Non-EU (Nov) -3.00B -1.60B
20:30 GBP NIESR GDP Estimate 0.50% 0.40%
