GBP/USD TECHNICAL OUTLOOK : 03.10.2016

GBP/USD TECHNICAL OUTLOOK : 03.10.2016

NIFTY Fut               : BUY ZONE
BANKNIFTY FUT : BUY ZONE


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GBP/USD. Pair after opening at 1.3021 made a low of 1.2980, and seen some selling pressure in the pair the pair has being volatile in the session after violating 1.30 mark , the pair has double bottom formation near 1.2940 mark but not sustain at higher levels so intraday rise shall be utilized to sell the pair. Near the said levels

Fundamental Overview

Pound is trading at 1.2935, after dropping below the 1.29 mark in early trading today. British PM Theresa May, speaking at the conservative party’s annual conference said that she would trigger the process of Britain’s exit from the EU as early as March. Expect the slide to be limited at this point as there is a lot of time for the actual process to begin. Manufacturing PMI data that is to be reported today could help in the pair’s recovery

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
14:00:00 GBP Manufacturing PMI (Sep) 52.1 53.3
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