Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.38611 with take profit at 1.38789.
Bearish Preference:
Sell position is envisaged if price trades below 1.38342 with take profit at 1.38161.
Fundamentals:
1:30pm USD CPI m/m
USD Core CPI m/m
6:01pm USD 30-y Bond Auction
Comment: The dollar is largely unchanged in early European trade Tuesday, with traders adopting a cautious stance ahead of the release of the latest U.S. inflation data which could influence the Federal Reserve’s monetary policy. A dispute over the size of the UK’s Brexit bill and worries about new coronavirus variant largely overshadowed the optimism led by the unlocking of the UK economy.
Analysis: SCRUM Team
