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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
A buy position is envisaged if price trades above price 1.37831 with take profit at price 1.37954.
Bearish Preference:
A sell position is envisaged if price trades below price 1.37490 with take profit at price 1.37388.
Fundamentals:
4:00pm GBP Monetary Policy Report Hearings
Comment: Higher UK rates have encouraged a stronger GBP, but the pound is set to struggle to see further gains, according to economists at MUFG Bank. Today, foreign exchange market traders will have a chance to take a look at JOLT’s job openings report from the U.S., although it remains to be seen whether this report will have any impact on currency dynamics.
Analysis: SCRUM Team
