AceTraderFx Nov 29: Intra-Day News and Views & data to be released today -GBP/USD
Intra-Day Market Moving News and Views
Update Time: 29 Nov 2019 04:30GMT
GBP/USD - 1.2909… The British pound proved quite tricky to trade yesterday as despite retreating to 1.2920 in Asia yesterday after a jump to 1.2953 on YouGov’s election poll result, price rebounded to 1.2951 ahead of European open. However, failure to penetrate said resistance triggered profit-taking and the pair dropped to session lows at 1.2900 in subdued North American trading due partly to cross-selling in sterling especially vs euro before trading sideways.
Cable’s fall from 1.2953 to 1.2900 yesterday suggests the recovery from last Friday’s low at 1.2822 has ended there and consolidation with downside bias remains for weakness to 1.2866.
Offers are now seen at 1.2920/30 and more above at 1.2940/50 with stops building up above there whilst initial bids are noted at 1.2840/50.
Data to be released on Friday :
New Zealand building permits, Japan Tokyo core CPI, Tokyo CPI, unemployment rate, industrial output, construction orders, consumer confidence, housing starts, UK GfK consumer confidence, Germany retail sales, unemployment change, unemployment rate, France consumer spending, GDP, CPI, producer prices, Swiss KOF indicator, Italy unemployment rate, CPI, GDP, EU HICP, core HICP, unemployment rate, and Canada GDP, producer prices, budget balance.