Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.39281 with take profit at 1.39434.
Bearish Preference:
Sell position is envisaged if price trades below 1.38951 with take profit at 1.38793.
Fundamentals:
GBP 12:30PM Asset Purchase Facility
BOE Monetary Policy Report
MPC Asset Purchase Facility Votes
Monetary Policy Summary
MPC Official Bank Rate Votes
USD 1:30PM Unemployment Claims
Comment: The dollar edged higher in early European trading Thursday after hawkish comments from the Federal Reserve prompted traders to price in an earlier tightening of monetary policy. The dollar has been in a state of flux over the last couple of months, first rising after the June meeting of the Federal Reserve saw several members bring forward their timetable for interest rate hikes before slipping back after Chairman Jerome Powell stated last week that interest rate increases were still in the distance.
Analysis: SCRUM Team
