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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.39486 with take profit at 1.39654.
Bearish Preference:
Sell position is envisaged if price trades below 1.39081 with take profit at 1.38900.
Fundamentals:
No Major Fundamental
Comment: The dollar edged lower Tuesday in tight trading ranges, with traders reluctant to take strong positions ahead of the release of key U.S. employment data at the end of the week. The rapid increase in prices has emboldened the hawks on the bank to call for a tapering down of the BOE’s £895 billion strong bond-buying scheme.
Analysis: SCRUM Team
