GBP/USD TECHNICAL OUTLOOK : 21.09.2016

GBP/USD TECHNICAL OUTLOOK : 21.09.2016

NIFTY Fut               : BUY ZONE
BANKNIFTY FUT : BUY ZONE
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GBP/USD. Pair after opening at 1.3031 made a high of 1.3061 , and saw selling pressure from the higher levels the pair violated the supports of 1.3050and saw some strong momentum coming on the down side we saw the pair was not able to take out recent high of 1.34 and reversed that signifies aggressiveness of the bears so any rise is a shorting opportunity in the pair and it c an test the levels of 1.2850 In near term

Fundamental Overview

Pound is trading at 1.2978, continuing with the downtrend as markets reacted to the possibility of an earlier than anticipated move to invoke the Article 50. All the movement in Pound would be dependent on the US dollar rather than the Brexit expectations for today. Once there is some clarity after the FOMC, we can see Pound reacting to the uncertainties surrounding the UK economy.

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