Date: 29th January, 2016
Currency Pair: GBPUSD
GBPUSD has been rising steadily and now trying to approach 1.4434 price level which is the 1st resistance for today. Once it is broken 1.4508 will come into play, followed by 1.4608.
On flip side 1.4260 is offering a strong support for today as last downside has been stopped by the level. Below the level 1.4160 and 1.4086 are subsequent support levels.
GBPUSD has able to hold yesterday’s gain but still the pair is under bearish zone. The price needs to break 1.4434 i.e. 1st resistance for any further upside movement. Beas is bearish above 1.4434.
Today’s Economic Events
|GBP||GfK Consumer Confidence||Low||4||1||2|
|USD||Advance GDP q/q||High||0.8%||
|USD||Advance GDP Price Index q/q||Medium||1.2%||1.3%|
|USD||Employment Cost Index q/q||Medium||0.6%||0.6%|
|USD||Goods Trade Balance||Medium||-60.0B||-60.5B|
|USD||Revised UoM Consumer Sentiment||Medium||93.1||93.3|
|USD||Revised UoM Inflation Expectations||Low||2.4%|
4 Hours Chart
Daily Support And Resistance Levels