Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.39464 with take profit at 1.39608.
Bearish Preference:
Sell position is envisaged if price trades below 1.39097 with take profit at 1.38940.
Fundamentals:
3:00pm USD ISM Manufacturing PMI
Comment: Cable is starting to weaken after a substantial run, and is anticipated to do a bit more back-and-filling even if higher prices lie ahead. The 400 pip pop made GBP/USD due for a pullback, but the question will be how much of one?
Analysis: SCRUM Team