Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.39383 with take profit at 1.39493.
Bearish Preference:
Sell position is envisaged if price trades below 1.39162 with take profit at 1.39049.
Fundamentals:
1:15pm USD ADP Non-Farm Employment Change
3:00pm USD ISM Services PMI
Comment: The dollar edged lower Wednesday, remaining near recent lows ahead of the release of key U.S. employment data which could guide monetary policy thinking at the Federal Reserve. The dollar has struggled to make any headway since Federal Reserve Chairman Jerome Powell indicated last week that interest rate increases were still in the distance, stating that more progress was still needed, particularly in the labor market.
Analysis: SCRUM Team
