Main Scenario: As long as it remains below 1.2900 level, our main expectation is NEGATIVE!
In addition, a 4-hour close below 1.2845 level could further strengthen the current main scenario.
Target Expectation: 1,2845 – 1,2790 – 1,2745 – 1,2695
Considerations Supporting The Scenario: The lines in the alligator indicator, the fact that it is moving in a resistance position above the current price and theoretically creating a SELL signal, reinforce our negative expectation.
Alternative Scenario: The alternative expectation is POSITIVE in case of 4-hour closure over the 1,2900 level!
Alternative Target Expectation: 1,2955 – 1,3000 – 1,3050 – 1,3100
IMPORTANT NEWS AND ASSETS OF THE DAY
Thursday, November 07
- Germany Industrial Production,
- Eurozone EU Economic Forecasts and Eurogroup meeting,
- Bank of England Inflation Report Presentation, Interest Rate Rate, Interest Rate Decision, Total Monetary Expansion, BoE President Carney Speech,
- Applications for US unemployment benefits, FOMC member Kaplan speech,
- Turkey’s Treasury Cash Balance,
When we consider current news feeds today, GBPUSD may attract attention relative to other entities.