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Daily GBP USD Technical Analysis 16th November, 2016

GBP USD Technical Analysis

GBP USD Technical Analysis 16th November, 2016

Technical Analysis Overview:

Prev. Close      1.2456

Open               1.2452

Day’s Range   1.2437 – 1.2481

52 wk Range   1.1450 – 1.5336

1-Year Return -18.06%

 

Technical Support and Resistance:

Daily GBP USD Technical analysis shows that GBP/USD pair may find the immediate support at 1.2442. If, market breaks the first support then it will go for the following support to test. Following supports are 1.2428 and 1.2414.

On the other side the market has immediate resistance at 1.2470. If, market breaks the primary resistance level then, market will go for the new resistance level 1.2484 and 1.2498.

Expected trading range for today is between 1.2437 supports and 1.2481 resistances.

Along with technical analysis following economic event are very important to analyze the financial market properly.

Upcoming Important Economic News: (GMT +3)

  1. GBP Average Earnings Index 3m/y 12:30pm.
  2. CHF ZEW Economic Expectations.
  3. GBP – Claimant Count Change.
  4. GBP – Unemployment Rate.
  5. GBP – CB Leading Index m/m.

 

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