Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.41305 with take profit at 1.41441.
Bearish Preference:
Sell position is envisaged if price trades below 1.40967 with take profit at 1.40839.
Fundamentals:
USD 7:00 pm FOMC Economic Projections
FOMC Statement
Federal Funds Rate
USD 7:30 pm FOMC Press Conference
Comment: The dollar was down on Wednesday morning in Asia but remained near a one month high ahead of a highly anticipated U.S. Federal Reserve policy decision. The pound hit a one-month low of $1.4035 during the previous session despite the release of better-than-expected employment data, including April’s average earnings index and bonus. However, the rapid spread of the highly contagious Delta variant of COVID-19 that forced U.K. Prime Minister Boris Johnson to delay his plans to lift lockdown measures by three weeks, remains a big risk.
Analysis: SCRUM Team
