Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.36733 with take profit at 1.36821.
Bearish Preference:
Sell position is envisaged if price trades below 1.36318 with take profit at 1.36181.
Fundamentals:
12:00pm GBP: Asset Purchase Facility MPC Asset Purchase Facility Votes Monetary Policy Summary
2:45PM USD Flash Manufacturing PMI Flash Services PMI
Comment: The British Pound moved higher through the Asian session as the US Dollar had a mixed day in the aftermath of the FOMC meeting. The resolution of the Evergrande bond coupon payment due today is still evolving but the equity market was upbeat enough to post gains on most bourses, South Korea being the exception. The FOMC delivered on expectations and the Fed is now believed to begin tapering stimulus at the November meeting.
Analysis: SCRUM Team