Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/USD trades slightly higher on hopes of delayed Brexit,good to buy on dips

GBPUSD has rebounded sharply after massive sell-off till 1.26615. The pair was showing selling pressure after The House of Common rejected May Brexit deal 432 to 200 was more severe than anticipated and this has opened possibility of a no- deal Brexit. But UK government survived no confidence vote after historic Brexit defeat. Theresa May won in narrow margin 325 votes to 306 votes. The pair hits intraday high of 1.29102 and is currently trading around 1.28929.

 

UK CPI data came slightly weaker than estimate. CPI data eases to 2.1% y/y down from 2.3% previous month.

 

On the higher side, any break above 1.2930 confirms minor bullishness and a jump till 1.2965/1.3000 is likely.

 

The near term support is around 1.2800 and any violation below targets 1.2760/1.2700. Any bearish continuation only below 1.2660.

 

It is good to buy on dip around 1.2875-80 with SL around 1.2830 for the TP of 1.3000.

 

 

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

April 19 08:00 UTC Released

ITConsumer Confidence

Actual

110.5 %

Forecast

111.2 %

Previous

111.2 %

April 19 08:00 UTC Released

ITMFG Business Confidence

Actual

100.6 %

Forecast

100.7 %

Previous

100.8 %

January 31 00:00 UTC 638424638424m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 638424638424m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 650244650244m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 638424638424m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 650244650244m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 638424638424m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 638424638424m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 638424638424m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.