NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
GBP/USD Pair after Opening at 1.2377 made a high of 1.2400 levels and saw the pair had a strong
momentum later half of the day the pair had violated the supports of the lower range of 1.24 levels and morning session was trading with some negative bias, 1.24 will act as a major supply zone and if the pair is not able to violate the said supports then the pair can test the next support s of 1.22 levels so utilize rise to sell the pair.
Pound is trading at 1.2281, breaking the lower bound of the range at 1.23 as the US dollar continued to surge higher and economic data from the UK was reported below expectations. Construction PMI is scheduled to be reported today and is expected to show signs of slow down. Today the pair could halt the slide and a sharp decline can be expected only if the date proves to be a negative surprise.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
15:00 GBP Construction PMI (Feb) 52.2 52.2