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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.38439 with take profit at 1.38565.
Bearish Preference:
Sell position is envisaged if price trades below 1.38116 with take profit at 1.37986.
Fundamentals:
3:00pm USD Prelim UoM Consumer Sentiment
Comment: The dollar was down on Friday morning in Asia, but remained near a four-month high. Investors now await more hints from the U.S. Federal Reserve on a timetable for asset tapering and interest rate hikes. The latest U.S. economic data, released on Thursday, said the producer price index grew 1% month-on-month in July.
Analysis: SCRUM Team
