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CURRENCY OUTLOOK

DAILY CURRENCY MARKET UPDATES

NEWS IN HEADLINE

* GBP/USD displays volatility contraction below 1.2400 ahead of US/UK PMIs

* USD/JPY drops back towards 130.00 to snap two-day rebound amid softer yields, mixed Japan

* EUR/GBP juggles around 0.8780, upside looks favored amid hawkish ECB bets

CHART OF THE DAY

OUTLOOK:

GBPINR: GBPINR managed to close above its horizontal resistance of 100.43 which act now as a support in downside and on the upside 100.85 act as a resistance, where move above 100.85 it can lead some upside momentum towards 101.00 while if it slips below 100.43 it may head towards 100.00-100.20 zone.

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