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Action Insight Market Overview	Markets Snapshot
Mid-Day Report: Sterling Jumps on GDP, Euro Reversing Sterling rebounds against dollar, yen and other European majors on the back of positive data. Q2 GDP growth accelerated to 0.7% qoq as expected. That's also the 10th consecutive quarter of growth and solidify the case for BoE to hike interest rate later. Markets are pricing in a rate hike next May. Also, the data affirmed BoE governor Mark Carney's up beat view on the economy and recent comments that rate hike could come earlier than market anticipated. Talking about BoE, Brevan Howard Asset Management economists Gertjan Vlieghe was appointed as a new MPC member. Also released from UK, index of services rose 0.4% 3mo3m in May versus expectation of 0.5%. Full Report Here...
Featured Technical Report
GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.5500; (P) 1.5547; (R1) 1.5605; More... GBP/USD recovers today but stays below 1.5674 temporary top. Intraday bias remains neutral first. Another rise is mildly in favor 1.5450 minor support holds. Above 1.5674 will target 1.5929 resistance and break will extend the larger rise to 61.8% retracement of 1.7190 to 1.4565 at 1.6187. On the downside, below 1.5450 minor support will turn focus back to 1.5169 support instead. Read more... EURUSD Technical Outlook USDJPY Technical Outlook GBPUSD Technical Outlook USDCHF Technical Outlook USDCAD Technical Outlook AUDUSD Technical Outlook EURJPY Technical Outlook EURGBP Technical Outlook EURCHF Technical Outlook GBPJPY Technical Outlook

Economic Indicators Update

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GMT	Ccy	Events	Actual	Consensus	Previous	Revised
08:30	GBP	GDP Q/Q Q2 A	0.70%	0.70%	0.40%
08:30	GBP	Index of Services 3M/3M May	0.40%	0.50%	0.50%
12:30	CAD	Industrial Product Price M/M Jun	0.50%	0.20%	0.50%
12:30	CAD	Raw Materials Price Index M/M Jun	0.00%	1.10%	4.40%
13:00	USD	S&P/Case-Shiller Composite-20 Y/Y May	4.90%	5.30%	4.91%	5.00%
14:00	USD	Consumer Confidence Jul		100	101.4

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency retreated after rising to 1.1130 yesterday and bids at 1.1050 were filled but buy orders are still noted at 1.1020, 1.1000 and 1.0980, buyers are reported at 1.0965 and 1.0940, buying interest is tipped at 1.0900, 1.0880 and 1.0860, fresh demand is located at 1.0820-25 and 1.0800. On the upside, offers are now seen at 1.1075-85, 1.1100 and 1.1120, sell orders are expected at 1.1160, 1.1185 and 1.1200, selling interest should emerge around 1.1220 and 1.1250.

Trade Idea Update: USD/JPY - Hold short entered at 123.55

Although the greenback rebounded after falling to 123.01 yesterday and marginal gain from here cannot be ruled out, as long as resistance at 123.84 holds, prospect of a retreat remains, below 123.30-35 would signal an intra-day top is formed, bring another test of 123.01 (yesterday's low), break there would extend the fall from 124.48 to 122.92-93 (previous support and 38.2% Fibonacci retracement of 120.41-124.48), break there would bring further decline to 122.70

Trade Idea Update: EUR/USD - Buy at 1.1000

As the single currency has retreated after rising to 1.1130 yesterday, suggesting consolidation below this level would be seen and minor correction to previous resistance at 1.1018 (now support) cannot be ruled out, however, reckon 1.1000 would limit downside and bring another rise later, above said resistance at 1.1130 would extend the rise from 1.0809 (last week's low) to 1.1150-60 but upside would be limited to resistance at 1.1197 and another resistance at 1.1216 should hold