GBP/USD TECHNICAL OUTLOOK : 02.09.2016

GBP/USD TECHNICAL OUTLOOK : 02.09.2016

NIFTY Fut               : SELL ZONE
BANKNIFTY Fut   : SELL ZONE
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GBP/USD. Pair after opening at 1.3139 made a high of 1.3266 , 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 1.3282, rallying sharply against the dollar as economic data continued to positively surprise markets. A stronger than expected manufacturing PMI data drove the Pound above the 1.33 mark yesterday. We can expect continued strength in the pound if the US jobs data disappoints in the evening but the pair is likely to remain sideways to negative going into the data release.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
4:00:00 AM GBP Construction PMI (Aug) 46.1 45.9
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