The British pound is unchanged at the start of the new trading week. Early in the North American session, GBP/USD is trading slightly above the 1.31 line. On the release front, it’s a quiet start to the week, with just one event on the schedule. British CBI Industrial Order Expectations came in at -4 points, within expectations. There are no US releases on Monday. On Tuesday, the US releases CB Consumer Confidence and New Home Sales, both key indicators. The pound sustained sharp losses on Friday, as British PMIs, important gauges of economic conditions, were unimpressive. Both indicators fell short of the 50-point threshold, indicating contraction in the services and manufacturing sectors. The soft readings are further indication of of economic fallout from the Brexit vote, in which the British electorate voted to leave the European Union.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.3160 TGT 1.3180 1.3210 SL 1.3130
SELL GBP/USD BELOW 1.3070 TGT 1.3050 1.3020 SL 1.3100
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
No comments:
Post a Comment