PAIR:GBPUSD
TECHNICAL REVIEW:
Today price opened at 1.5311 below PP made low of 1.5261, and high of 1.5432. Although it broke 1.54 resistance but closed below it.
FUNDAMENTAL REVIEW:
GBP: GDP data was released of UK. It was 0.6% as forecast
USD: Core durable goods order at 0.0% against forecast of 0.5%
USD: Unemployment claims at 343K against forecast 339K
USD: Durable goods order m/m at 4.2% against forecast of 1.1%
CONCLUSION:
In my view GBP long is favorable as British economy is showing signs of improvement.
USD strength is coming from taper expectations, in my point of view data don't support early taper.
Technically GBPUSD is above bollinger bands, daily RSI is above 50, most of moving averages I follow are below price, so i am bullish on GBPUSD.
CONTACT: newtraders01@gmail.com
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