Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.37764 with take profit at 1.37967.
Bearish Preference:
Sell position is envisaged if price trades below 1.37286 with take profit at 1.37135.
Fundamentals:
7:00pm USD FOMC Meeting Minutes
Comment: The dollar edged lower in Europe Wednesday, but remained at elevated levels with global growth concerns, caused by the ongoing Covid outbreak, prompting traders to cut back on their positions with riskier currencies. Investors are now looking to the minutes from the U.S. Federal Reserve’s latest meeting, due to be released later in the day, for clues to the central bank’s timeline for asset tapering and interest rate hikes.
Analysis: SCRUM Team
