GBP/USD is trading at 1.20926, 0.13% down since previous day close. The strong USD amid mixed global cues led heavy selling pressure in other major currencies. Also, an upside in USD post release of robust U.S NFP data which showed a progress in employment figures in the last month turned out to be negative for Sterling Pound. On data front, the U.K’s RICS House Price Balance showed a drop-down of 47% weaker than previous figure -42% while the major focus will be on the outcome of country’s GDP & Manufacturing Production data today. As seen in the chart, the pair is trading between the tight range of 1.20000 & 1.22000 levels since few weeks. Currently, the pair is hovering near Fibo level 23.6 which shows the chances of either side breakout on daily basis.

CHNIND is trading at 7158.8, 0.22% down since previous day close. The Asian shares slid down in early trade on Friday as few of the FOMC members hinted a hawkish stance in their speech held on Thursday. Earlier this week, the CHNIND rallied after Fed hinted for deflationary scenario which might create suspicious view rate hike decision in the next meeting. The Chinese CPI rate grew by just 2.1% & the PPI rate fell by 0.8% against the respective expectation figures of 2.2% & -0.5%. This may turn up to bullish factor for CHNIND in later half of the session today. As seen in the chart, the index contracted down till Fibo level 23.6 which acts as major support level. A reversal if sustained or a breakdown if breached can be seen on daily basis.

WTI Oil is trading at $77.67, 0.02% down since previous day close. The Oil prices seem to be trading in a specific range ahead of the release of U.S Baker Hughes report which will show the changes is Oil rig counts as compared to last week. The U.S Energy Information Administration report showed a mild rise in Oil inventory level by 2.4 mbpd almost same as expectation. On long term basis, an increase in consumption demand from China further may push up the prices since China is a major consumer of Oil. The resurgence in USD amid strong U.S NFP data & higher chances of rate hike stance in next Fed meeting led selling pressure in Oil prices last week. The cautious trading may be suggested for the day in WTI Oil.