GBP/USD TECHNICAL OUTLOOK : 07.09.2016

GBP/USD TECHNICAL OUTLOOK : 07.09.2016

NIFTY Fut               : SELL ZONE
BANKNIFTY FUT : SELL ZONE

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GBP/USD. Pair after opening at 1.3308 made a high of 1.3360 , 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 had surpass the major hurdle of 1.3400 and now if sustain can head higher for coming days

Fundamental Overview

Pound is trading at 1.3419, continuing with the upward movement as investors continued to exit short
positions amidst strong economic data emerging out of the UK. Appreciation was least in the Pound
yesterday as it has rallied already and buyers were hesitant to add to longs, but we believe that there could be some upside in the pair.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
13:00:00 GBP Halifax House Price Index (YoY) (Aug) 7.00% 8.40%
14:00:00 GBP Industrial Production (MoM) (Jul) -0.20% 0.10%
14:00:00 GBP Manufacturing Production (MoM) (Jul) -0.40% -0.30%
14:45:00 GBP BoE MPC Member Cunliffe Speaks
18:45:00 GBP BoE Gov Carney Speaks
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