GBP/USD TECHNICAL OUTLOOK : 08.09.2016

GBP/USD TECHNICAL OUTLOOK : 08.09.2016

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GBP/USD. Pair after opening at 1.3428 made a high of 1.3430 , and saw some profit booking from the higher levels after a strong run up from the past weeks, the pair is likely to consolidate near the 50DMA at 1.3315 and any close below that will trigger so reversal for short term traders so intraday the pair would be volatile


Fundamental Overview

Pound is trading at 1.3350 and has corrected after the weaker than expected house price and manufacturing production data that was reported yesterday. Pound is likely to remain on the sidelines before the ECB announcement today as no other economic data is scheduled this week.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
04:31:00 GBP RICS House Price Balance (Aug) 6.00% 5.00%
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