Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.38157 with take profit at 1.38269.
Bearish Preference:
Sell position is envisaged if price trades below 1.37844 with take profit at 1.37725.
Fundamentals:
1:30pm USD Core Retail Sales m/m
USD Retail Sales m/m
2:15pm USD Industrial Production m/m
6:30pm USD Fed Chair Powell Speaks
Comment: Britain’s jobs report showed an impressive 8.8% increase in average earnings. Pound bulls were likely impressed by the UK’s low Unemployment Rate of 4.7% in June, but less delighted with the meager decrease in jobless claims in July. In the US region, the hawks are gaining ground. Federal Reserve Chair Jerome Powell could alleviate them in a speech late in the day, as he has tended to lean toward the dovish side.
Analysis: SCRUM Team
