GBP/USD TECHNICAL OUTLOOK : 12.09.2016

GBP/USD TECHNICAL OUTLOOK : 12.09.2016

NIFTY Fut               : SELL ZONE
BANKNIFTY FUT : SELL ZONE

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GBP/USD. Pair after opening at 1.3300 made a high of 1.3335 , 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 1.3230 any close below this range can see some volatile movement in the pair but intraday rise would be a shorting opportunity

Fundamental Overview

Pound is trading at 1.3265, continuing with the downturn after the manufacturing production missed
expectations. US dollar’s resilience added to the weakness in the Pound but expect a lot of volatility in the British currency during this week, with key data including the bank of England interest rate decision. Expect some more weakness in the currency today.
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