GBPUSD – Daily Analysis – 14th December, 2016

Date: 14th December, 2016

Currency Pair: GBPUSD

In the last trading session we’ve seen some selling pressure in GBPUSD pair. Now the pair is trying to stable above key support level i.e. 1.2629 any break below the level may force the pair towards 1.2603 and then 1.2554.

On the opposite upside limit is capped by 1.2704. Other resistance levels are at 1.2753 and 1.2779.

By looking at previous days performance We may expect a short term bearish correction from this pair. Also today we’ve some important economic data which will be released during market opening session. Bias is bearish below 1.2629.

Today’s Economic Events

Currency Event Impact Actual Forecast Previous
GBP Average Earnings Index 3m/y High 2.3% 2.3%
GBP Claimant Count Change High 6.2K 9.8K
GBP Unemployment Rate Medium 4.8% 4.8%
GBP BOE Gov Carney Speaks High
USD Core Retail Sales m/m High 0.4% 0.8%
USD PPI m/m High 0.1% 0.0%
USD Retail Sales m/m High 0.3% 0.8%
USD Core PPI m/m Medium 0.2% -0.2%
USD Capacity Utilization Rate Medium 75.1% 75.3%
USD Industrial Production m/m Medium -0.2% 0.0%
USD Business Inventories m/m Low -0.1% 0.1%
USD Crude Oil Inventories High -2.4M

4 Hours Chart

Daily Support And Resistance Levels

Currency Pair S1 S2 S3 R1 R2 R3
GBPUSD 1.2629 1.2603 1.2554 1.2704 1.2753 1.2779
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