GBP/USD TECHNICAL OUTLOOK : 01.09.2016

GBP/USD TECHNICAL OUTLOOK : 01.09.2016
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GBP/USD. Pair after opening at 1.3102 made a high of 1.3120 , and saw some profit booking from the higher levels the pair is respecting the levels of 1.3200 as a resistance and 20DMA at 1.3128 and 1.3000 is acting as a support for the pair and rise is shorting opportunity for medium to long term player as the pair is making lower top and bottom formation

Fundamental Overview

Pound is trading at 1.3132, traded on a volatile note yesterday with a 50 point trading range. A surprise rise in house prices were reported yesterday but position adjustment in the stretched short positions has created a sudden rally in the pair. Manufacturing PMI data set to be reported today would be watched for any signs of weakness to further sell the pair.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
14:00:00 GBP Manufacturing PMI (Aug) 49 48.2
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