FxGrow Daily Technical Analysis – 30th Sept, 2016
By FxGrow Research & Analysis Team
BRITISH POUND STILL MORVING STRONGER THAN U.S DOLLAR, AHEAD OF CURRENT ACCOUNT REPORT
GBP/USD is still moving bullish since 16th Sep, dropping from 1.3247 30th Sep low to 1.2944. Right now, GBP is trading at 1.2954 closing to first support gate S1 1.2945 and expected to keep dropping as charts andf numbers show. With daily pivot 1.2993, next to first resistance, it gives a picture of how significant the British pound has been moving facing the U.S Dollar.
Trend: bearish is the most likable trend, but an opposite shift cannot be excluded due to crucial news at 9:30 AM on GDP current account.
Key levels to watch: Daily Pivot: 1.2993
first support S1 1.2954, S2 1.2918, S3 1.2879 (4 hours charts)
First resistance R1 1.2987 , R2 1.3032, R3 1.3056 ( 4 hours chart)
Remark: look forward for current account release on GDP at 9:30 AM GMT.
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Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.