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GBP/USD TECHNICAL OUTLOOK:7.11.2016

GBP/USD TECHNICAL OUTLOOK:7.11.2016
NIFTY FUT  TREND             : BUY ZONE
BANKNIFTY FUT  TREND  : BUY ZONE



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GBP/USD. Pair after opening at 1.2474 made a high of 1.2549, and seen some buying from the lower levels , but the pair could not sustain the 1.25 levels and reversed this signifies aggressiveness of bear at higher levels but 1.24 will support act as a strong support so the pair will be likely to be volatile in the said range

Fundamental Overview

Pound is trading at 1.2459, retreating from the highs near 1.26 that were seen on Friday. Optimism from the high court decision and hawkish tone of the Bank of England led to the rally in Pound but the return of Dollar’s strength after yesterday’s events dragged GBP lower.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
2:00:00 PM GBP Halifax House Price Index (YoY) (Oct) 4.80% 5.80%
2:00:00 PM GBP Halifax House Price Index (MoM) (Oct) 0.20% 0.10%