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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.39550 with take profit at 1.39730.
Bearish Preference:
Sell position is envisaged if price trades below 1.38819 with take profit at 1.38653.
Fundamentals:
1:30pm USD Core PCE Price Index m/m
3:00pm USD Revised UoM Consumer Sentiment
Comment: The dollar drifted lower in Asia on Friday as an agreement on U.S. infrastructure spending underpinned appetite for riskier currencies, but caution ahead of key U.S. inflation data kept losses to a minimum. The absence of any rate hike hints from the Bank of England knocked sterling on Thursday, while a surprise lift to rates in Mexico sent the peso zooming. Bank of England policymakers even warned against “premature tightening” and the pound was the worst performing G10 currency on Thursday.
Analysis: SCRUM Team
