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FxWirePro: GBP/USD downside capped by 55- day EMA, good to buy on dips

GBP/USD halted its bearishness after a huge sell-off of more than 200 pips on Sep 21st 2018 after top EU officials rejected Theresa May chequer Brexit plan. The pair has recovered almost 100 pips from the low of 1.30556. The slight recovery was due to positive commnets from Brexit minister Raab. German Chancellor Angela Merkel said that an agreement about Brexit could come in Oct. With no major economic data in UK markets eye US consumer confidence and fed monetary policy.

On the lower side, near term support is around 1.3090 and any violation below targets 1.3055/1.300. Any close below 1.3000 confirms further bearishness.

 

The near term major resistance is around 1.3175 and any violation above targets 1.3245/1.3300.

It is good to buy on dips around 1.3130-35 with SL around 1.3090 for the TP of 1.3300.

 

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October 18 10:00 UTC Released

PTCurrent Account Balance

Actual

-1.116 Bln EU

Forecast

Previous

-1.641 Bln EU

October 18 09:00 UTC Released

ZAMining Production YY

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-9.1 %

Forecast

-4 %

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-5.2 %

January 31 00:00 UTC 375021375021m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 375021375021m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 386841386841m

ARTrade Balance

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Forecast

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-1541 %

January 31 00:00 UTC 375021375021m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 386841386841m

ARTrade Balance

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Forecast

Previous

-1541 %

January 31 00:00 UTC 375021375021m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 375021375021m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 375021375021m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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