Pair : GBP/USD
Technical Analysis
After bouncing significantly at the level of 1.27827, price continue bearish mode since last week and the clear direction at this moment is to the support level of 1.19949 which is the round figure will be 1.20000. Opening price today is below 250pips of 55 EMA which is clearly show the strength of downtrend momentum. I am not taking any action at this moment as I will waiting for price to reach nearest support/resistant level and look for the candlestick/chart pattern to see if there any potential set up.
Fundamental Analysis
Market participants will waiting for the result of Q3 Current Account balance which is expected to show a slight improvement and come-in to show a deficit of 27.45 billion as compared to 28.68 billion recorded in the previous quarter.
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