GBP/USD- In a resistance zone – will you trade

Focus: the resistance at 1.6070 remain in focus as a major obstacle and the pair needs to break this resistance to confirm further upward trend. The immediate support is near the 1.5891 zone.

Strategy in Play:

The GBP/USD is trading in a resistance zone on a 30 minute time frame. The volatility for the pair is high as the price has pierced the Bollinger band and it is trading away from its 20 day moving average.  The piercing of the Bollinger band does have a significant importance when this takes place at a resistance/support zone, because this is an ability to stop the upward/downward move or reverse the trend.

Technical Analysis

Copper- Fundamental and Technical Ana

Fundamental

Copper is trading in an extremely tight range as investors are focused towards Washington and wondering if the politicians can finally understand the urgency of resolving this political gridlock which has once again called for deja vue. The rating agency, Fitch, has put the biggest economy of the world, U.S on a negative watch  due to illiterate attitude which politicians are using to resolve the debt ceiling and the government shutdown dispute

Technical Analysis

All eyes on Washington: While Fitch puts US ‘AAA’ rating on a negative watch

 

European markets are trading mostly lower during the early hours of trading by erasing some of their gains which were made yesterday. Investors are focused towards Washington and wondering if the politicians can finally understand the urgency of resolving this political gridlock which has once again called for Deja vu. The rating agency, Fitch, has put the biggest economy of the world, U.S on a negative watch  due to illiterate attitude which politicians are using to resolve the debt ceiling and the government shutdown dispute.

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