CBI industrial trends survey data GBPUSD expectations

ADS Securities’ market analysts have shared their CBI industrial trends survey data GBPUSD expectations. What is your outlook?

22 June, ADS Securities – The Pound traded firmer against the US Dollar in the last session, following comments from the Bank of England’s (BoE) Chief Economist, Andy Haldane, that it would be wise to hike interest rate later this year.

CBI industrial trends survey data GBPUSD expectations

As visible on the 1H chart, the pair is trading rangebound between 1.2655-1.2685, as traders would keep an eye on CBI industrial trends survey data, to be released today. However, a possible signal line crossover from above by the MACD indicator, suggests a likely correction over intraday basis.

Key intraday support is positioned at the 1.2635 level, a breach below which might trigger bearishness in the pair, clearing its way for the 1.2615 and 1.2585 levels. On the bright side, the key technical barrier resides at the 1.2695 level, followed by the 1.2730 where EMA 200 is trading and 1.2760 levels.

CBI industrial trends survey data GBPUSD expectations

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