GBP/USD TECHNICAL OUTLOOK : 23.09.2016

GBP/USD TECHNICAL OUTLOOK : 23.09.2016

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GBP/USD. Pair after opening at 1.3078 made a high of 1.3088 , and seen some buying to volatile session from the lower levels the pair has double bottom formation near 1.2940 mark and its acting as a strong support but 1.31 is acting as a strong resistance in the pair so the pair is likely to be volatile in range of 1.30- 1.31

Fundamental Overview

Pound is trading at 1.3041, after a volatile session yesterday. Pound traded above the 1.31 mark momentarily before sliding back to the current level. Markets reacted to the optimistic comments from a key member of BOE monetary policy committee. There is no major news from the UK today but the dollar flows would determine the direction. Expect a retest of 1.31 with support near 1.30.
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